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    The Effective Annual Interest Rate on a One-Year, $1,000,000, 12
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The Effective Annual Interest Rate on a One-Year, $1,000,000, 12

Question 155

Question 155

Multiple Choice

The effective annual interest rate on a one-year, $1,000,000, 12% discount loan that requires a 10% compensating balance is


A) 22%.
B) 13.3%.
C) 13.6%.
D) 12.0%.

Correct Answer:

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