What is the effective rate of interest on a 800000 loan


If Digital Computers can borrow at 9.5% for three years, what is the effective rate of interest on a $800,000 loan where a 15% compensating balance is required?

Solution Preview :

Prepared by a verified Expert
Finance Basics: What is the effective rate of interest on a 800000 loan
Reference No:- TGS02673065

Now Priced at $10 (50% Discount)

Recommended (93%)

Rated (4.5/5)