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Title: A bank lends a firm $1,000,000 for one year at 12 percent on a discounted basis and requires ... Post by: betterway on Mar 7, 2017 A bank lends a firm $1,000,000 for one year at 12 percent on a discounted basis and requires compensating balances of 10 percent of the face value of the loan. The effective annual interest rate associated with this loan is ________.
A) 12 percent B) 13.3 percent C) 13.6 percent D) 15.4 percent Title: Re: A bank lends a firm $1,000,000 for one year at 12 percent on a discounted basis and requires ... Post by: Ulain on Mar 7, 2017 Content hidden
Title: Re: A bank lends a firm $1,000,000 for one year at 12 percent on a discounted basis and requires ... Post by: betterway on Jul 4, 2017 Thank you for providing the right answer every time
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