Kbkbkb8694 Kbkbkb8694
  • 21-11-2022
  • Business
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a loan of $20,000 is obtained from the bank. the promissory note specifies that $2,500 interest is to be paid at the end of the year along with the principal. what is the effective interest rate if the bank requires the firm to maintain a 15% compensating balance?

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