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Question 27 1 pts As the owner of Mountain Sports, you have approached your bank about a one year loan for your ski and mountain

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Question 27 1 pts As the owner of Mountain Sports, you have approached your bank about a one year loan for your ski and mountain bike rental business. The business needs $23,100 and the bank has offered to make the loan with the following conditions: (1) the bank will charge 6.0% discount interest and (2) the bank requires a 17.0% compensating balance. How much do you have to actually borrow from the bank to have $23,100 of usable funds? Note: This is a Web Appendix 15B topic. $25,000 $30,000 $33,750 $28,500

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