Question
Youve worked out a line of credit arrangement that allows you to borrow up to $50 million at any time. The interest rate is .58
| Youve worked out a line of credit arrangement that allows you to borrow up to $50 million at any time. The interest rate is .58 percent per month. In addition, 6 percent of the amount that you borrow must be deposited in a non-interest-bearing account. Assume that your bank uses compound interest on its line of credit loans. |
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Corporate Finance Core Principles And Applications
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe, Bradford Jordan
6th Edition
1260571122, 978-1260571127
