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Problem 12.25 The Colonial Window Treatments Company is borrowing $1.5 million. The loan requires a 10 percent compensating balance, and the effective interest rate on

Problem 12.25

The Colonial Window Treatments Company is borrowing $1.5 million. The loan requires a 10 percent compensating balance, and the effective interest rate on the loan is 8.3 percent. What is the stated APR on this loan? (Round answer to 3 decimal places e.g. 12.251%.)

The stated APR on this loan is....... %.

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