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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Fundamentals of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh
4th Canadian edition
978-1259269868, 978-1259103292
