11.
XYZ, Inc, borrowed $10,000 from National City Bank for three months. The loan was
ma...
Mathematics, 05.05.2020 08:24 natalieagustinlop54
11.
XYZ, Inc, borrowed $10,000 from National City Bank for three months. The loan was
made at a simple interest rate of 9 percent but required a compensating balance of 20
percent. Find the effective annual interest rate for this loan.
Answers: 1
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