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Jano needs to finance a cash shortfall. Their business is such that they have a large cash inflow at the start of the month and so begin the month with cash in hand. By the 15th of the month they are generally in overdraft and the overdraft is usually at the limit of $100,000 by the end of the month. The overdraft rate is 18%. They have been offered a medium term loan at an interest rate of 10%. Should the company finance the shortfall by overdraft or loan? A. Loan. B. Overdraft. |