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What interest rate would make it worthwhile to incur a compensating balance of $8,500 in order to get a 0.65 percent lower interest rate on a 2 year, pure discount loan of $160,000? (Negative amount should be indicated by a minus sign. Do not round intermediate calculations. Round your final answer to 2 decimal places.)

Interest rate %

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Financial Management, Finance

Category:- Financial Management
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