Question
The Colonial Window Treatments Company is borrowing $1.5 million. The loan requires a 15 percent compensating balance, and the effective interest rate on the loan
The Colonial Window Treatments Company is borrowing $1.5 million. The loan requires a 15 percent compensating balance, and the effective interest rate on the loan is 11.0 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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The Oxford Handbook Of Pricing Management
Authors: Ozalp Ozer, Robert Phillips
1st Edition
0199543178, 978-0199543175
