Problem 18.13 – Costs of Borrowing

Fundamentals of Corporate Finance

Ross, Westerfield, and Jordan

13th Edition

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Difficulty – Medium

Given borrowing amount for credit arrangement, interest rate, the amount borrowed that must be deposited into a non-interest-bearing account... find the annual interest rate. Next, given the amount needed today and amount of months to repay it.... figure out the interest paid.

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