Assume that a firm has a $1,000,000 line of credit at an 4.39 percent rate of interest

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Assume that a firm has a $1,000,000 line of credit at an 4.39 percent rate of interest that requires a 6.8 percent compensating balance. If the firm borrowed $112,000 for 1 year.

Calculate amount of money available to use?

Related Book For answer-question

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Posted Date: Mar 31, 2023 02:19 AM

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Assume that a firm has a $1,000,000 line of credit at an 4.39 percent rate of interest

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Income Tax Fundamentals 2013

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