Business Mathematics 13th Edition by Gary Clendenen,Stanley Salzman

Exercise 1

Bank of America borrowed $80,000,000 at 5, interest for 180 days from a Japanese investment house. At the same time, the bank made the following three loans, each for the exact same 180-day period:
A 7, simple interest note for $38,000,000 to a Canadian firm that extracts oil from Canadian tar sands;