Mathematics, 01.12.2020 23:30, mshields1994

Karim Corp. requires a minimum $8,600 cash balance. Loans taken to meet this requirement cost 1% interest per month (paid monthly). Any excess cash is used to repay loans at month-end. The cash balance on July 1 is $9,000, and the company has no outstanding loans. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow.

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Karim Corp. requires a minimum $8,600 cash balance. Loans taken to meet this requirement cost 1% int...