Question
Connecticut Advanced Technologies (CAT) is planning to get a 30-day, $150,000, simple interest loan from its bank. The quoted interest rate on the loan is
Connecticut Advanced Technologies (CAT) is planning to get a 30-day, $150,000, simple interest loan from its bank. The quoted interest rate on the loan is 10 percent.
(plz send me answer fast with all the work)
1. calculate the periodic rate assuming the lone has no compensating balance requirement ?
a) 0.82%
b) 1.55%
c)2.00%
d)2.36%
e)2.63%
2. calculate the (APR) assuming the lone has no compensating balance requirement ?
a) 9.98%%
b) 10.45%
c)11.55%
d)11.86%
e)12.53%
3. calculate the (EAR) assuming the lone has no compensating balance requirement?
a) 9.98%
b) 10.45%
c)11.55%
d)11.86%
e)12.53%
3. calculate the periodic rate assuming the lone has a 20 percent compensating balance requirement, and CAT currently holds no funds at the lending bank.?
a) 2.63%
b) 2.36%
c)2.00%
d)1.65%
e)1.03%
4. calculate the APR assuming the lone has a 20 percent compensating balance requirement, and CAT currently holds no funds at the lending bank.?
a) 9.98%
b) 10.45%
c)11.55%
d)11.86%
e)12.53%
5. calculate the EAR assuming the lone has a 20 percent compensating balance requirement, and CAT currently holds no funds at the lending bank.?
a) 9.98%
b) 10.99%
c)11.55%
d)12.53%
e)13.28%
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