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If Tinker Inc Finances Its Seasonal Working Capital With Short Term Bank Loans And Plans To Borrow $65 000 For A

Question

If Tinker Inc finances its seasonal working capital with short term bank loans and plans to borrow $65,000 for a

year and was offered a 3.5% discounted loan with a 1.5% origination fee why is the interest paid calculated using $65,000 x .1 x 120/360 = $2,167 and can this question be answered using a financial calculator

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