If Analog Computers can borrow at 8% 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)None of these options

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The Answer of If Analog Computers can borrow at 8% 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)None of these options

If Analog Computers Can Borrow at 8% for Three Years