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Francis construction co has an outstanding bank loan of

Problem: Francis Construction Co. has an outstanding bank loan of $600,000 at an annual interest rate of 8%. The company is required to maintain a 20% compensating balance in its chequing account.

Required:

What is the annual interest cost on the loan?

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Finance Basics: Francis construction co has an outstanding bank loan of

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Finance Basics: Francis construction co has an outstanding bank loan of

Reference No:- TGS02890613

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