The Kincaid company has annual sales of 510 units, keep a safety stock of 4 units and has ordering cost equal to $8 per order and carrying cost equal to $40 per unit. What is Kincaid total inventory cost.
The Stilton cheese company borrowed $40,000 from the bank. The loan was for 73 days.it required a compensating balance of 6%. It was also a discount loan. Stilton received proceeds of $36,800 from this loan.
A. What is the stated rate of interest on this loan?
B. If the loan was 146 days, what would the loan proceeds be?