Haas comp opened a new store oct 1 2015 preparing the cash

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Haas Comp. opened a new store Oct. 1, 2015. Preparing the cash budget, the company has a shortage of (178,072). They have to borrow in increments of $1,000, and have a $13,000 cushion, with a 2% monthly interest rate. What is the appropriate amount to borrow? Is it 192,000?

Reference no: EM13567753

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