Determine loan amount
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An automobile company, Nissan, as temporary cash surplus and lends its funds overnight through a repurchase agreement to a government securities dealer, earning $55,600 in interest income when the RP loan rate stood at 5.70 percent. What was the size of the loan that Nissan granted to the securities dealer?
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The solution determine the size of the loan that Nissan granted to the securities dealer.
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The size will calculated as below. What you have to do this question to calculate the amount which will generate interest of ...
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