An ovedraft interest of 15%per annum is negotiated on the overdrawn balance at the end of each month. There is an interest on cash surplus. Let's say the overdraft is R235 256 How do you make the calculation?
An ovedraft interest of 15%per annum is negotiated on the overdrawn balance at the end of each month. There is an interest on cash surplus. Let's say the overdraft is R235 256 How do you make the calculation?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:An ovedraft interest of 15%per
annum is negotiated on the
overdrawn balance at the end of
each month. There is an interest on
cash surplus. Let's say the overdraft is
R235 256 How do you make the
calculation?
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