alance on March 31 will be $146000, but waterways has decided it would like to maintain a cash balance of at least $400,000 beginning on April 30. The company has an open line of credit with its bank. the terms of the agreement require borrowing to be in $1000 increments at 4% interest. Borrowing is considered to be on the first day of the month and repayments and interest payments are on the last day of the month. What do i have to borrow? and what is the repayments? and then what ar
alance on March 31 will be $146000, but waterways has decided it would like to maintain a cash balance of at least $400,000 beginning on April 30. The company has an open line of credit with its bank. the terms of the agreement require borrowing to be in $1000 increments at 4% interest. Borrowing is considered to be on the first day of the month and repayments and interest payments are on the last day of the month. What do i have to borrow? and what is the repayments? and then what ar
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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The cash balance on March 31 will be $146000, but waterways has decided it would like to maintain a cash balance of at least $400,000 beginning on April 30. The company has an open line of credit with its bank. the terms of the agreement require borrowing to be in $1000 increments at 4% interest. Borrowing is considered to be on the first day of the month and repayments and interest payments are on the last day of the month. What do i have to borrow? and what is the repayments? and then what are the repayments with interest?
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