LMN CoPlans to Enter into a Secured Term Loan by Assigning

question 124

Multiple Choice

LMN Co.plans to enter into a secured term loan by assigning its receivables of $600,000 with an average maturity date of 30 days.The finance company will loan 75% of the receivables value at 11% interest plus a service fee of 0.05% of the total receivables pledged.What is the total cost of this financing arrangement?

• A)$3,039
• B)$3,872
• C)$4,049
• D)$4,368

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Definitions:

Gender Segregation

The physical, legal, or cultural separation of people based on their gender.

Concentration Of Women

Situations or contexts where women are in majority or where their presence is significantly higher than that of men.

Legislation

Laws and regulations formally enacted by governing bodies to regulate, authorize, forbid, or sanction specific actions and practices.

Gender Identity

Gender identity is an individual's personal sense of their own gender, which may or may not correspond with the sex they were assigned at birth.