Holland construction co has an outstanding 180 day bank


Holland Construction Co has an outstanding 180 day bank loan of $475,000 at an annual interest rate of 7.5%. The company is required to maintain a 15% compensating balance in its checking account. What is the effective interest rate on the loan?

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Financial Econometrics: Holland construction co has an outstanding 180 day bank
Reference No:- TGS0668184

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