For a three-month loan of 27,000 with an annual interest rate of 8% determines the apr of
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- For a three-month loan of 27,000 with an annual interest rate of 8% determines the apr of a discount loan with a 10% compensating balance
- you need to transfer $150,000 from a high point to any city. if you mail a check it will cost 2.50 for postage and clearing the check and it will take five days for the funds to be transferred. during this time you will not be earning any interest which is currently 2.5% APY. however, by sending a wire transfer that costs $25.00 the funds will instantaneously transfer with no float. How much does the wire transfer save you compared to the cost of having the check mailed?
Related Book For
Foundations of Financial Management
ISBN: 978-1259024979
10th Canadian edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
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