Question
HSBC has lend a $100,000 loan to ben company for nine month with annual interest rate at 8%. the compensating balance requirement is 15%. the
HSBC has lend a $100,000 loan to ben company for nine month with annual interest rate at 8%. the compensating balance requirement is 15%. the loan principal and interest must paid in nine month.
1) What will be the interest coast of this loan?
2) What will be the total loan payment at the end of the term?
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Frank Woods Business Accounting Volume 1
Authors: Frank Wood, Alan Sangster
10th Edition
9780273681496
