Your company can obtain a business line of credit from a bank at 7.5% compounded semiannually, or

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Your company can obtain a business line of credit from a bank at 7.5% compounded semiannually, or from the Small Business Development Bank at 7.45% compounded monthly. If your company requires $100,000 for two years, how much money can you save in interest by choosing the best option?

Multiple Choice

$148.81
$184.81
$128.81
$152.81
$146.81

Posted Date: Nov 29, 2021 05:09 PM

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Your company can obtain a business line of credit from a bank at 7.5% compounded semiannually, or

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18481 The best option would be to obtain the business line of cre... View the full answer

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