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15. The Meng Corp. was recently quoted terms on a commercial bank loan of 7 percent discounted Interest with : 20 percent compensating balance. The

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15. The Meng Corp. was recently quoted terms on a commercial bank loan of 7 percent discounted Interest with : 20 percent compensating balance. The term of the loan Is one year. The efective cost of borrowing is (rounded to the nearest hundredthl C. 9.4198 b. 8 75% 0. 9.5916

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