Question
The Banque de Fraud, Inc. has awarded a $50 million revolving credit at 15% stated interest rate for 1 year to the Masoom & Sada
The Banque de Fraud, Inc. has awarded a $50 million revolving credit at 15% stated interest rate for 1 year to the Masoom & Sada Company; borrowing for the year was $36 million by the Masoom & Sada Company; Banque de Fraud requires 9% compensating balance on borrowed funds; and a nominal 1% commitment fee on unavailed credit. What is the cost of borrowing?
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The Internal Auditors Guide To Risk Assessment
Authors: Rick A. Wright Jr.
2nd Edition
1634540158, 9781634540155
