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What interest rate would make it worthwhile to incur a compensating balance of $7,500 in order to get a 0.65 percent lower interest rate on
What interest rate would make it worthwhile to incur a compensating balance of $7,500 in order to get a 0.65 percent lower interest rate on a 2-year, pure discount loan of $150,000? (Negative amount should be indicated by a minus sign. Round your answer to 1 decimal place.) |
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