Question
If Analog computers can borrow at 9.7% annually for three years, what is the effective rate of interest on a $835,000 loan where a 19%
If Analog computers can borrow at 9.7% annually for three years, what is the effective rate of interest on a $835,000 loan where a 19% compensating balance is required? (Use 360 days in a year. Round your answer to 2 decimal places.)
Multiple Choice
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9.28%
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17.28%
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11.98%
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14.73%
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Entrepreneurial Finance
Authors: Simon Hulme, Chris Drew
1st Edition
1352009811, 978-1352009811
