Recent Posts • Latest Topics • Unanswered Questions

Tangshan Mining borrowed $100,000 for one year under a revolving credit agreement that authorized ...

pompa

wrote...

Go to Answer

Posts: 997

Rep:

7 years ago

Tangshan Mining borrowed $100,000 for one year under a revolving credit agreement that authorized ...

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

Edition: 14^th

Authors: Gitman, Zutter

Read 306 times

1 Reply

Report

Replies

Answer verified by a subject expert

donnaban

wrote...

Related Topics

pompa Author

wrote...

7 years ago

Thanks for your help!!

TAT1238

wrote...

Yesterday

Brilliant ツ

kc123

wrote...

2 hours ago

I appreciate what you did here, answered it right Smiling Face with Open Mouth

New Topic

Quick Reply

Explore

Post your homework questions and get free online help from our incredible volunteers

1847 People Browsing

Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook

Related Images

1225

1036

Your Opinion

Previous poll results: Which 'study break' activity do you find most distracting?

It's sore throat season, why does my mucus have red spots?

Courses by Biology Forums

The Toxic Skin and Fungi Defense

Strange Ingredients Lurking in Doritos Chips

Bonobos, Chimpanzees, and the 98% DNA Link

Ready to ask a question on Biology Forums? Try it out

Join Our Community

Biology Forums - Study Force is a free online homework help service catered towards college and high school students. Get homework help and answers to your toughest questions in biology, chemistry, physics, mathematics, engineering, accounting, business, humanities, and more. Master your assignments quickly with thousands of step-by-step solutions to countless textbook questions asked and answered by our members. If we don't have your question, don't worry. You can ask any homework question and get expert homework help in as little as two hours.

Our extensive online study community is made up of college and high school students, teachers, professors, parents and subject enthusiasts who contribute to our vast collection of study resources: textbook solutions, study guides, practice tests, practice problems, lecture notes, equation sheets and more. With our help, your homework will never be the same!

Join for free today

How is Biology Forums - Study Force different than tutoring?

Home Search Q & A Board Gallery Resource Library Blog Dictionary Chat	Quick Links Start a Topic Latest Topics Unanswered Questions Courses Study Tools Browse by Textbook	Social Facebook YouTube Community Stats Who's Online Trending Staff	Help About Us Take the Tour Study Tips Posting Guidelines Terms and Policies Contact Us
Biology Forums - Study Force © 2010-2024 \| Powered by SMF \| SMF © 2015, Simple Machines \| Sitemap Biology-Forums.com is not affiliated with any publisher. Book covers, title and author names appear for reference only.