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Assume that a firm has a $1,000,000 line of credit at an 4.39 percent rate of interest that requires a 6.8 percent compensating balance. If

Assume that a firm has a $1,000,000 line of credit at an 4.39 percent rate of interest that requires a 6.8 percent compensating balance. If the firm borrowed $112,000 for 1 year.


Calculate amount of money available to use?

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