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Unlimited Tours has borrowed $50000 at a stated APR of 8.5 percent. The loan calls for a compensating balance of 8 percent. What is the
Unlimited Tours has borrowed $50000 at a stated APR of 8.5 percent. The loan calls for a compensating balance of 8 percent. What is the effective interest rate for this company?
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Intermediate Financial Theory
Authors: Jean-Pierre Danthine, John B. Donaldson
3rd Edition
0123865492, 9780123865496
