Business, 26.11.2019 00:31 animaljamissofabu

Carey company is borrowing $325,000 for one year at 11.5 percent from second intrastate bank. the bank requires a 18 percent compensating balance. the principal refers to funds the firm can utilize effectively (amount borrowed − compensating balance). a. what is the effective rate of interest? (use a 360-day year. input your answer as a percent rounded to 2 decimal places.)

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Carey company is borrowing $325,000 for one year at 11.5 percent from second intrastate bank. the ba...