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Analog Computers needs to borrow $880,000 from the Midland Bank. The bank requires a 12% compensating balance. How much money will Analog need to borrow

Analog Computers needs to borrow $880,000 from the Midland Bank. The bank requires a 12% compensating balance. How much money will Analog need to borrow in order to end up with $880,000 spendable cash?

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