Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. > moving to another question will save this res

> Moving to another question will save this response. Question 6 of 25 >...

60.1K

Verified Solution

Question

Accounting

image
> Moving to another question will save this response. Question 6 of 25 > >> Question 6 4 points Saved Penn Inc. needs to borrow $250,000 for the next 6 months. The company has a line of credit with a bank that allows the company to borrow funds with an 7% interest rate subject to a 20% of loan compensating balance. Currently, Penn Inc. has no fund deposit with the bank and will need the loan to cover the compensating balance as well as their other financing needs. What will be the total interest amount for this financing? $11,250 $10,000 $12,500 $8,750 > Moving to another question will save this response. >> Type here to search

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Describe the versatility of the Glucose phosphate molecule. How do plants utilize this molecule?

Biology
Q

The spring of a toy gun has a force constant of k = 533 N/m and...

Physics
Q

Question 7 Multiple Choice Worth 1 points 02 04 MC Triangles ABD and CBD are...

Geometry
Q

a b c d Ope p v o p p v Ot 1 2 o...

Basic Math
Q

Evaluate the following formula for p 0 6 p 0 5 P P 0 p...

Statistics
Q

Estimate the area under the graph of f x rectangles and right endpoints R 1...

Calculus
Q

A drug is administered intravenously at a constant rate of 7 mg hour and is...

Calculus
Q

1 you solve them 1 point Jose s teacher announces that the scores on their...

Algebra
Q

One of the most pressing problems confronting the world is global warming. To effectively address...

Accounting
Q

Question 7 of 45 2 Points You decide to deposit $2,000 at a local bank...

Accounting
Q

During the current year, Kendail incurs the foliowing expenses with respect to her beachfront condominium...

Accounting
Q

QUESTION 8 Consider a project with free cash flows in one year of $130,936 or...

Finance