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    If Analog Computers Can Borrow at 8% Annually for Three
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If Analog Computers Can Borrow at 8% Annually for Three

Question 2

Question 2

Multiple Choice

If Analog Computers can borrow at 8% annually for three years, what is the effective rate of interest on a $1,000,000 loan where a 15% compensating balance is required?


A) 11.18%
B) 17.27%
C) 9.41%
D) 24%

Correct Answer:

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