Effective annual rate of intestters on line of credit, Finance Basics

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Effective annual rate of intestters on line of credit

Jackson insutries has borrowed $125,000 under a line of credit agreement. While the company normally maintains a checcking acount balancce of $15,000 in the lending bank, this ccredit line requires a 20% ompensating balance. The stated interest rate on the borrowed funds is 10%. What is the effective annual rate of intestters on the line of credit?

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Finance Basics: Effective annual rate of intestters on line of credit

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Finance Basics: Effective annual rate of intestters on line of credit

Reference No:- TGS041351

Have a Question? (oR Write a Review)

Recent Questions Asked Finance Basics

Q : Product sales and after-sale services

Q : Does the yen appear to be overvalued and undervalued

Q : What the cost records for the period will show

Q : Calculate the total assets at the end of the year

Q : Effective annual rate of intestters on line of credit

Q : Use product-process matrix to explain mistake

Q : How much was the overapplied or underapplied overhead

Q : Merchandise from epps company

Q : By how much was manufacturing overhead underapplied

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Request for Solution File

Ask an Expert for Answer!!

Finance Basics: Effective annual rate of intestters on line of credit

Reference No:- TGS041351

Recent Questions Asked Finance Basics

Q : Product sales and after-sale services

Q : Does the yen appear to be overvalued and undervalued

Q : What the cost records for the period will show

Q : Calculate the total assets at the end of the year

Q : Effective annual rate of intestters on line of credit

Q : Use product-process matrix to explain mistake

Q : How much was the overapplied or underapplied overhead

Q : Merchandise from epps company

Q : By how much was manufacturing overhead underapplied

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