If Analog Computers can borrow at 8% for 3 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) 9.40%
D) None of these

Question

Quizplus · Accepted Answer

The Answer of If Analog Computers can borrow at 8% for 3 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) 9.40%
D) None of these

If Analog Computers Can Borrow at 8% for 3 Years