Question
Analog Computers needs to borrow $860,000 from the Midland Bank. The bank requires a 16% compensating balance. How much money will Analog need to borrow
| Analog Computers needs to borrow $860,000 from the Midland Bank. The bank requires a 16% compensating balance. How much money will Analog need to borrow in order to end up with $860,000 spendable cash? (Round your answer to the nearest dollar amount.) |
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Economics For Financial Markets
Authors: Brian Kettell
1st Edition
0750653841, 978-0750653848
