The company needs to finance $7,500,000 for a ne… Show mor

Assignment Help Finance The company needs to finance $7,500,000 for a ne… Show mor

Finance

The company needs to finance $7,500,000 for a ne… Show mor

The company needs to finance $7,500,000 for a ne… Show more; Task 1: Assessing loan options for Aero Plain, Inc The company needs to finance $7,500,000 for a new factory in Mexico. The funds will be obtained through a commercial loan. Here is some of the information regarding the APRs offered by two well-known commercial banks. Bank Bank APR Frequency of Payments Frequency of Payments National First Prime Rate + 3.75% Prime Rate + 3.75% Prime Rate + 3.75% Quarterly Quarterly Regions Best 7.00% 7.00% 7.00% Monthly Monthly; 1. Assuming that Aero Plain is considering loans from National First and Regions Best, what are the EARs for these two banks? Hint: to find the Prime Rate for National Bank, go to the St. Louis Federal Reserve Board’s website (; http://research.stlouisfed.org/fred2/

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