Top Posters
Since Sunday
j
3
s
3
j
2
J
2
e
2
n
2
t
2
d
2
b
2
t
2
J
2
b
2
Home Q & A Board Other Fields Homework Help Business Management
New Topic  
betterway betterway
wrote...
Go to Answer
Posts: 1450
Rep: 0 0
7 years ago
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
Textbook 
Principles of Managerial Finance

Principles of Managerial Finance


Edition: 14th
Authors:
Read 121 times
2 Replies
Replies
Answer verified by a subject expert
UlainUlain
wrote...
#1
Top Poster
Posts: 1013
Rep: 37 0
7 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

betterway Author
wrote...
#2
7 years ago
Thank you for providing the right answer every time
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  805 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 209
  
 1197
  
 1060
Your Opinion
How often do you eat-out per week?
Votes: 81
Previous poll results: Which industry do you think artificial intelligence (AI) will impact the most?