Multiple Choice
Consolidated Corporation requires C$50 million in funds. The bank has offered them a discounted loan at 8% with a compensating balance of 15%. How much must they borrow in order to net this amount?
A) 64,935,165
B) 55,455,700
C) 85, 985,005
D) 35,097,555
Correct Answer:
Verified
Correct Answer:
Verified
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