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Business, 27.07.2021 01:30 kaykardash

"Idaho​ Mining, Inc. borrows at prime plus​ 1.5% on its line of credit. The line requires a​ 15% compensating balance. If the prime rate is​ 9% and Idaho Mining plans on borrowing for a period of one​ year, what is the nominal APR of the line of​ credit?"

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