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marmech12 marmech12
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4 months ago
Queue de Castor Company is being offered a one-year $1.45 million operating line of credit at a rate of 5.75%. There is a monthly 0.5% commitment fee on the unused amount. The firm borrows only $0.5 million during the first 8 months of the loan and reduces its loan by a further $0.2 million for the remaining 4 months. What is the effective annual cost (in percent) of this loan arrangement?
Textbook 
Corporate Finance

Corporate Finance


Edition: 5th
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melswhi1melswhi1
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4 months ago
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marmech12 Author
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4 months ago
Smart ... Thanks!
deathwing
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Yesterday
Thank you, thank you, thank you!
hpascoe
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2 hours ago
Thanks
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