What is the effective annual interest rate on this line of, Financial Management

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What is the effective annual interest rate on this line of

Your company has agreed to a 420 million fixed commitment line of credit. The loan agreement calls for you company to pay 1.49 percent per quarter on any funds borrowed and maintain a 6 percent compensating balance on any funds borrowed at zero percent interest. What is the effective annual interest rate on this line of credit?

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Financial Management: What is the effective annual interest rate on this line of

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