Question
We have a $500,000 line of credit with a 10% compensating balance. The quoted interest rate is 4.5%. We need $200,000 for inventory for one
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We have a $500,000 line of credit with a 10% compensating balance. The quoted interest rate is 4.5%. We need $200,000 for inventory for one year. What is the effective interest rate we are paying on this credit line?
4.5%
9.0%
5.0%
5.55%
4.0%
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Process To Profits Strategic Planning For A Growing Business
Authors: William Lasher
1st Edition
0324223870, 9780324223873
