How does the firm borrow million from a comercial bank
Assignment:
Firm A borrows $1 million from a commercial bank. The bank charges an annual rate of 10 percent and requires a 3 percent origination fee. How much does the firm have to borrow to have $1 million?
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Firm A borrows $1 million from a commercial bank. The bank charges an annual rate of 10 percent and requires a 3 percent origination fee.
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