Mathematics, 18.10.2020 14:01 mostman077

Your firm needs $630 for one quarter to finance a deficit. Interest charges are 2% per quarter. Your bank requires a 10% compensating balance. How much must your firm borrow in order to obtain the needed funds?
$700.00
$705.00
O $693.00
$715.91

Answers: 3

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More questions: Mathematics Another questions

Your firm needs $630 for one quarter to finance a deficit. Interest charges are 2% per quarter. Your bank requires a 10% compensating balance. How much must your firm borrow in order to obtain the needed funds? $700.00 $705.00 O $693.00 $715.91

Answers

Another question on Mathematics

Your firm needs $630 for one quarter to finance a deficit. Interest charges are 2% per quarter. Your bank requires a 10% compensating balance. How much must your firm borrow in order to obtain the needed funds?
$700.00
$705.00
O $693.00
$715.91