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Petrol Iberico a European gas compay is borrowing bankers, which will charge up-front fees totaling 1.3% of the principal amount. What is the effective interest
Petrol Iberico a European gas compay is borrowing
bankers, which will charge up-front fees totaling 1.3% of the principal amount. What is the effective interest cost for the first year if the annual LIBOR is 4.50% during the first six months and 4.70% during the second six months. The effective interest cost for the first year is ;. (Round to two decimal places.)Step by Step Solution
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