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Hello,
If the amount to be financed is $9m and the issue costs are 2%, why is the answer (according to BPP Mock exam 1, Q1):
9m/98% = $9.184mand not:
9m x 1.02 = $9.18m (i.e. the money being raised plus 2% of the money being raised)?
Thanks,
DD
hey, please email me the mock exam and the answers at kevincosworth@gmail.com
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