Question
your company plans to borrow $ 5 million for 9 months and your bank gives you a start rate of 12% interest a. compute the
your company plans to borrow $ 5 million for 9 months and your bank gives you a start rate of 12% interest
a. compute the effective rate of interest for the loan, if it had a compensation balance requirement of 15%
b. compute the effective rate of the interest if this were a discounted loan
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Fundamentals of Financial Management
Authors: Eugene F. Brigham, Joel F. Houston
14th edition
1285867971, 978-1305480742, 1305480740, 978-0357686393, 978-1285867977
