Borrow money for operations and payroll when revenues

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Brady and Sons uses accounts receivable as collateral to borrow money for operations and payroll when revenues are low if the company borrows $300.000 now at an interest rate of 12% per year compounded monthly and the rate increases to 15% per year compounded monthly after 4 months, how much will the company owe at the end of one year?

At the end of the year, the company will owe exist

Reference no: EM131587186

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