i will 10 upvotes urgent Suppose your firm is seeking an eight-year, amortizing $750,000 loan with annual payments and your bank is offering you the choice between a $795,000 loan with a $45,000 compensating balance and a $750,000 loan without a compensating balance. The interest rate on the $750,000 loan is 8.5 percent. How low would the interest rate on the loan with the compensating balance have to be for you to choose it?(Do not round intermediate calculations and round your final answer to 2 decimal places.) Interest rate%
i will 10 upvotes urgent Suppose your firm is seeking an eight-year, amortizing $750,000 loan with annual payments and your bank is offering you the choice between a $795,000 loan with a $45,000 compensating balance and a $750,000 loan without a compensating balance. The interest rate on the $750,000 loan is 8.5 percent. How low would the interest rate on the loan with the compensating balance have to be for you to choose it?(Do not round intermediate calculations and round your final answer to 2 decimal places.) Interest rate%
Chapter16: Working Capital Policy And Short-term Financing
Section: Chapter Questions
Problem 14P
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i will 10 upvotes urgent
Suppose your firm is seeking an eight-year, amortizing $750,000 loan with annual payments and your bank is offering you the choice between a $795,000 loan with a $45,000 compensating balance and a $750,000 loan without a compensating balance. The interest rate on the $750,000 loan is 8.5 percent.
How low would the interest rate on the loan with the compensating balance have to be for you to choose it?(Do not round intermediate calculations and round your final answer to 2 decimal places.)
Interest rate%
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