Question
Problem 12.25 The Colonial Window Treatments Company is borrowing $1.5 million. The loan requires a 12 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 12 percent compensating balance, and the effective interest rate on the loan is 11.1 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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Finance For Nonfinancial Managers
Authors: Gene Siciliano
2nd Edition
0071824367, 978-0071824361
