Aurora co made a 30000 1-year discount loan at 10 interest, Ask an Expert

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Aurora co. made a 30,000 1-year discount loan at 10% interest requiring a compenstating balance equal to 25% of the face value of the loan. what is the effective anual rate associated with this loan if this firm currently maintains 3,000 in its checking account?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92169700

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