Waste Management A U Firm Has A Surplus Amount Of Usd 20 Million Available For 9

Waste Management, a U. S. firm, has a surplus amount of USD 20 million available for 90 days. Its U. S. banker offers a fixed- rate deposit with interest calculated using a continuously compounded rate of 2 percent. Assume that Eurobanks compete for this deposit and offer an interest rate using the actual/ 360 convention. At what rate will these Eurobanks be attractive to Waste Management? (use p.pp%)

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