Business, 28.05.2021 02:30 luislopez05

A corporation obtains a loan of $200,000 at an annual rate of 12%. The corporation must keep a compensating balance of 20% of any amount borrowed on deposit at the bank, but normally does not have a cash balance account with the bank. What is the effective cost of the loan

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A corporation obtains a loan of $200,000 at an annual rate of 12%. The corporation must keep a compe...

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