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Analog Computers needs to borrow $810,000 from the Midland Bank. The bank requires a 14% compensating balance. How much money will Analog need to borrow

Analog Computers needs to borrow $810,000 from the Midland Bank. The bank requires a 14% compensating balance. How much money will Analog need to borrow in order to end up with $810,000 spendable cash? (Round your answer to the nearest dollar amount.)

  • $1,630,836

  • $1,506,600

  • $923,400

  • $941,860

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