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pompa pompa
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7 years ago
Tangshan Mining borrowed $100,000 for one year under a revolving credit agreement that authorized and guaranteed the firm access to $200,000. The revolving credit agreement had a stated interest rate of 7.5 percent and charged the firm a 1 percent commitment fee on the unused portion of the agreement. Based on this information, the effective annual interest rate on the loan is ________.
A) 7.5%
B) 8.0%
C) 8.5%
D) 9.0%
Textbook 
Principles of Managerial Finance

Principles of Managerial Finance


Edition: 14th
Authors:
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donnabandonnaban
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7 years ago
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pompa Author
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7 years ago
Good timing, thanks!
Jose^2
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Yesterday
Helped a lot
Loruiz15
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2 hours ago
this is exactly what I needed
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