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WS Corp. requires Php 100,000 for 1 quarter. The firm's bank will lend at 12% on a discounted basis with a 20% compensating balance required.

WS Corp. requires Php 100,000 for 1 quarter. The firm's bank will lend at 12% on a discounted basis with a 20% compensating balance required. What is the annualized percentage interest cost of this loan? Use 4 decimal places in your computation and assume 360 day year

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