Question
Your firm has about $12.6 million in excess cash. This is based on your projections of operations over the next year. You smartly decide to
Your firm has about $12.6 million in excess cash. This is based on your projections of operations over the next year. You smartly decide to invest this cash short term in order to earn some interest income. The investment you have chosen pays a 5.0% APR, and you intend to invest for 6 months. How much interest income will you earn?
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Financial Markets and Institutions
Authors: Jeff Madura
12th edition
9781337515535, 1337099740, 1337515531, 978-1337099745
