Essay
Business Book Publishing needs to borrow $700,000 in order to finance its new inventory.Two banks in town offered different loan terms: Marine Bank offered a 10% loan with a 15% compensatory balance to be paid back in quarterly payments.McLean National Bank offered Business Book Publishing a 12% loan to be paid back semi-annually.Which loan terms should Business Book Publishing take?
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MarineBank
where the compens...View Answer
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Correct Answer:
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where the compens...View Answer
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