Solved: Your employer needs to borrow 550000 to finance inventory, Basic Statistics

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Your employer needs to borrow 550000 to finance inventory

Your employer needs to borrow $550,000 to finance inventory for the upcoming seasonal rush. BIG Bank has offered to finance the inventory at 8% provided that your employer keeps a compensating balance in its operating account of 8%. How much must your employer borrow to end up with the $550,000?

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Basic Statistics: Your employer needs to borrow 550000 to finance inventory

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