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Brandt is CFO of snedeker golfing adventures inc. Brandt can borrow at 9.5% for 1 year, what is the effective rate of interest on a

Brandt is CFO of snedeker golfing adventures inc. Brandt can borrow at 9.5% for 1 year, what is the effective rate of interest on a $800,000 loan where 15% compensating balance is required?
A. 11.18%
B. 17.27%
C. 9.50%
D. None of the above

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