ABC Company has a cash balance of 9 $000 on April 1. The company must...
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ABC Company has a cash balance of 9 $000 on April 1. The company must maintain a minimum balance of $6,000. In April, expected cash inflows are $45,000. Expected disbursements during the month total $52,000. The business has a line of credit of $50,000 at 10% annual interest (fully available). It borrows on the first day of the month and repays the loans on the last day of the month. How much will the business need to borrow
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