A company borrowed $7.5 million from a bank on January 1, 2019 at 10% interest to start a construction project. The company paid $6 million evenly from March to December, leaving some of the loan unpaid. The excess funds were invested at 6% return from July 2019.
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A company borrowed 7.5 million from local bank at interest rate of 1.pdf
1. A company borrowed 7.5 million from local bank at interest rate of 10% on January 1 the
construction also started at January 1 2019 . The company paid evenly 6 million from 1st march
to December and no remaining loan were paid during the year.excess amount were invested at
6% return from July 2019 what will be the amount of borrowing cost to be capitalized at Dec
2019 ?