How much should the organization budget for interest costs

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Reference no: EM132031128

You work for the YOUR organization (Youth Oriented to Uphold Responsibility). The organization projects that it will need to use $250,000 over the next year in a line of credit issued at an annual interest rate of 4%. They estimate needing the line of credit for 5 months (assume a 30-day month). How much should the organization budget for interest costs on the line of credit next year?

Reference no: EM132031128

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