Question
You are planning tp borrow 10000 from a bank for two weeks. The banks terms are 7 percent annual interest, collected on a discount basis,
You are planning tp borrow 10000 from a bank for two weeks. The banks terms are 7 percent annual interest, collected on a discount basis, with a 10 percent compensating balance. Compute the effective annual interest rate of the loan
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Gapenskis Understanding Healthcare Financial Management
Authors: George H. Pink, Paula H. Song
8th Edition
1640551093, 978-1640551091
