Problem related to spendable cash, Accounting Basics

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Problem related to spendable cash

Analog Computers needs to borrow $800,000 from the Midland Bank. The bank requires a 15% compensating balance. How much money will Analog need to borrow in order to end up with $800,000 spendable cash?

a. $920,000

b. $1,058,264

c. $941,177

d. none of the above

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Accounting Basics: Problem related to spendable cash

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Accounting Basics: Problem related to spendable cash

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Ask an Expert for Answer!!

Accounting Basics: Problem related to spendable cash

Reference No:- TGS094279

Recent Questions Asked Accounting Basics

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