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15. The Meng Corp. wes 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. wes 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 effective cost of borrowing is Grounded to the nearest hundredand 9. 6 54% 9.41% b. 8.75% 3. 9.593%

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