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Stuart Mining is offered a $4,000,000 line of credit for three months at an APR of 6%. The bank requires that the firm keep an amount equal to 10% of the loan principal in an account with the bank as long as the loan remains outstanding. This account pays 2% APR with quarterly compounding. What is the actual three-month interest paid on this loan?
Active Ingredient
The component of a drug or substance that is biologically active and responsible for its effects on the body.
Marijuana
A psychoactive drug from the Cannabis plant used for medical or recreational purposes, known for its effects on mood and perception.
Glaucoma
A group of eye conditions that damage the optic nerve, often associated with increased pressure within the eye.
Nausea
A sensation of discomfort in the stomach with an urge to vomit, often a symptom of various conditions.
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