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Business, 17.12.2019 23:31 nathanowens121224

Juno industrial supply has a line of credit of $200,000 with an interest rate of 7.1 percent. the loan agreement requires a compensating balance of 3.3 percent of the total amount borrowed, which will be held in an interest-free account. what is the effective interest rate if the company requires $132,000 for operations for one year?

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Juno industrial supply has a line of credit of $200,000 with an interest rate of 7.1 percent. the lo...
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