Bank of Melbourne has granted a two million loan to Qantas Ltd. with an annual 0.09 loan
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Bank of Melbourne has granted a two million loan to Qantas Ltd. with an annual 0.09 loan rate. The bank keeps a capital ratio of 8% under Basel Accord III and requires a minimum compensating balance ratio of 0.1.Qantas has paid $6826 as loan origination fee to the bank.What is the gross return rate of this loan?(Keep three decimals in the answer and do not input %.)
Related Book For
Statistical Reasoning For Everyday Life
ISBN: 978-0134494043
5th Edition
Authors: Jeff Bennett, William Briggs, Mario Triola
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