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Calculate the effective interest rate on loans with the following minimum compensating balance requirements: Loan Rate Compensating Balance 6.5% 20% 12.0% 10% 10.5% 15% 14.0%

Calculate the effective interest rate on loans with the following minimum compensating balance requirements:

Loan Rate Compensating Balance

6.5% 20%

12.0% 10%

10.5% 15%

14.0% 25%

8.5% 30%

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