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Your company plans to borrow $ 1 0 million for 1 2 months, and your banker gives you a stated rate of 2 3 percent
Your company plans to borrow $ million for months, and your banker gives you a stated rate of percent interest.
Calculate the effective rate of interest for the following types of loans.
Simple percent interest with a compensating balance of percent.
Note: Use a day year. Input your answer as a percent rounded to decimal places.
Discounted interest with no compensating balance
Note: Input your answer as percent rounded to decimal places.
An installment loan payments
Note: Input your answer as percent rounded to decimal places.
Discounted interest with a compensating balance of percent.
Note: Use a day year. Input your answer as a percent rounded to decimal places.
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