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What is the effective borrowing rate (EBR) for the following 6-month (182-day) line of credit: CL = total credit line $650,000; AL = Average outstanding amount $389,000; CF = Commitment fee 0.36% (not annualized) on unused line; IR = Annual Interest rate 2.1% over LIBOR (which is currently 4.7%)?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91796520

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