Suppose you have ($1000) in average daily sales. Your payment processor offers you a cash advance of
Question:
Suppose you have \($1000\) in average daily sales. Your payment processor offers you a cash advance of \($20,000\) with a factor rate of 1.12 and a 10% holdback rate. What is the total amount you must repay? How long do you expect to take to repay it? What is the implied annual interest rate on your loan?
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PLAN You can figure the total due by multiplying the factor rate by the advance You will make daily ...View the full answer
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Related Book For 
Fundamentals Of Corporate Finance
ISBN: 9780137852581
6th Edition
Authors: Jonathan Berk, Peter DeMarzo, Jarrad Harford
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