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Business, 31.03.2020 01:35 lizzy4858

Tangshan Mining borrowed $100,000 for one year under a line of credit with a stated interest rate of 7.5 percent and a 15 percent compensating balance. Normally, the firm keeps almost no money in its checking account. Based on this information, the effective annual interest rate on the loan is .

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Tangshan Mining borrowed $100,000 for one year under a line of credit with a stated interest rate of...
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