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QUESTION
A firm arranges a discount loan at a 15 percent interest rate, and borrows $200,000 for one year. The stated interest rate is ________ and the...
A firm arranges a discount loan at a 15 percent interest rate, and borrows $200,000 for one year. The stated interest rate is ________ and the effective interest rate is ________. What would be the effective rate if the bank required a compensating balance of 20%?
