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compensating balance requirement. Also assume that there are 365 days per year. Determine the annual financing cost of borrowing each of the following amounts under
compensating balance requirement. Also assume that there are 365 days per year. Determine the annual financing cost of borrowing each of the following amounts under the credit agreement: a. $250,000. Round your answer to two decimal places. \% b. $500,000. Round your answer to two decimal places. % c. $1,000,000. Round your answer to two decimal places. 3%
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