Question
Your company has a 100M line of credit (L.O.C), for 1yr with a 4% compensating balance on the amount borrowed. Calculate the EAR if the
Your company has a 100M line of credit (L.O.C), for 1yr with a 4% compensating balance on the amount borrowed. Calculate the EAR if the loan is 3% per quarter (compounded quarterly). Assume you borrow the entire 100M for 1 yr
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
9th Edition
978-0470317549, 9780470387085, 047031754X, 470387084, 978-0470533475
