Since the loan calls for a compensating balance and the, Ask an Expert

Management Studies

The Clarkson Designer Company wants to borrow $750,000. The bank will provide the loan at an APR of 7.826. Since the loan calls for a compensating balance, the effective interest rate is actually 10.143 percent. What is the compensating balance on this loan?

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Business Management, Management Studies

Category:- Business Management
Reference No.:- M9293871

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