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Analog Computers needs to borrow $800,000 from the Midland Bank. The bank requires a 15% compensating balance. How much money will Analog need to borrow in order to end up with $800,000 spendable cash?

a. $920,000

b. $1,058,264

c. $941,177

d. none of the above

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M994279

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