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The Friendly Bank offers AB United a $200,000 line of credit with an interest rate of 2.25% per quarter. The credit line also requires that 2% of the unused portion of the credit line be deposited in a non-interest bearing account as a compensating balance. AB United's short-term investments are paying 1.5% per quarter. What is the effective annual interest rate on this arrangement if the line of credit goes unused all year? Assume any funds borrowed or in yested use compound interest. Multiple Choice 6.19% 6.08% 6.14% 6.00% 5.92% MCQ 18-23 Given the following information... ven the following information, calculate the cash cycle. Use average inventory, receivables, and payables in your calculations. redit sales =$1,000,000 Cost of goods sold =$750,000 Beginning balances: Inventory =$300,000 Accounts Receivable =$280,000 Accounts Payable =$260,000 Ending balances: Inventory =$280,000 Accounts Receivable =$250,000 Accounts Payable =$240,000 116 days 97 days 238 days 261 days 141 days Wrangler, Inc. has a beginning receivables balance on February 1 of $680. Sales for February through May are $310,$340,$360, and $400, respectively. The accounts receivable period is 30 days. How much did the firm cduect in the month of May? Assume that a year has 360 days. Multiple Choice $340.00 $400.00 $386.67 $373.33