FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If Analog computers can borrow at 9.3% annually for three years, what is the effective rate of interest on a $810,000 loan where a 20%

image text in transcribed
image text in transcribed
If Analog computers can borrow at 9.3% annually for three years, what is the effective rate of interest on a $810,000 loan where a 20% compensating bolance is required? Note: Use 360 days in a year. Round your answer to 2 decimal places: Multiple Choice 8.92% 16.92% 11.62% 14.37%

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Management Principles And Applications

Financial Management Principles And Applications

Authors: Dr. S. Kr. Paul, Prof. Chandrani Paul

1st Edition

1647251664, 9781647251666

More Books

Students also viewed these Finance questions

Question

★★★★★
Corporate bonds usually pay interest semiannually. If a company decided to change from semiannual to annual interest payments, how would this affect the bonds interest rate risk?

Answered: 1 week ago

Question

★★★★★
ABC Moving and Storage acquired a new truck for $100,000, paying $20,000 cash and signing a promissory note for the balance. According to the bill of sale, ABC also paid cash for sales tax of 8%,...

Answered: 1 week ago

Question

★★★★★
Identify the people who start small businesses and the reasons why some succeed and many fail.

Answered: 1 week ago

Question

★★★★★
Weatherly Lumber Company processes wood pulp for manufacturing various paper products. The company employs a process costing system for its manufacturing operations. All direct materials are added at...

Answered: 1 week ago

Question

★★★★★
If Analog computers can borrow at 9.3% annually for three years, what is the effective rate of interest on a $810,000 loan where a 20% compensating bolance is required? Note: Use 360 days in a year....

Answered: 1 week ago

Question

★★★★★
On April 1 of the current year, Morgan Jones established a business to manage rental property. She completed the following transactions during April: Opened a business bank account with a deposit of...

Answered: 1 week ago

Question

★★★★★
On December 31, 2016, Robey Company accumulated the following information for 2016 in regard to its defined benefit pension plan: Service cost $95,610 Interest cost on projected benefit obligation...

Answered: 1 week ago

Question

★★★★★
please describe what is meant by a analytical concepts and statistical techniques or how can one be descriptive the following question Understanding of and experience using analytical concepts and...

Answered: 1 week ago

Question

★★★★★
Assume that unusually mild weather has caused a change in the quantity and timing of orders for golf carts. The revised plan calls for 100 golf carts at the start of week 6, 100 at the start of week...

Answered: 1 week ago

Question

★★★★★
20 pts. Find x(t) x" (t)+x(t)= F(t) 4 0t2 F(t)= (1+2 1>2 x(0) = 0, x'(0) = 0

Answered: 1 week ago

Question

★★★★★
Best 11_ratio : 0.3 Best alpha: 0.1 Try again for more precision with 11_ratio centered around 0.3 Best 11 ratio : 0.3 Best alpha 0.1 Now try again for more precision on alpha, with 11_ratio fixed at...

Answered: 1 week ago

Question

★★★★★
You are the owner of Dales Clothiers for Men, a business designed to serve white-collar professionals. The policy of your store is to provide credit cards for individuals who have good jobs and...

Answered: 1 week ago

Question

★★★★★
Describe different techniques that a sender may use to gain a receivers attention in a persuasive message. Give an example of a situation in which each of these techniques can be used effectively....

Answered: 1 week ago

Question

★★★★★
When is a persuasive message used? How does anticipated receiver reaction influence the organizational plan used to write a persuasive message? (Objective 1)

Answered: 1 week ago

Previous Question Next Question