What would be the effective cost of the bank loan, Financial Accounting

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What would be the effective cost of the bank loan

Problem

Yuksek-Sadakat td, wants to expand, which will require additional financing. If the company gets funds from a bank for one year, at a rate of 9% interest rate, discount loan with 20% compensating balance requirement, what would be the effective cost of the bank loan?

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Financial Accounting: What would be the effective cost of the bank loan

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Financial Accounting: What would be the effective cost of the bank loan

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