Define the following: a. Line of credit b. Commercial paper c. Compensating balance d. Prime rate
Question:
a. Line of credit
b. Commercial paper
c. Compensating balance
d. Prime rate
Line of Credit
A line of credit (LOC) is a preset borrowing limit that can be used at any time. The borrower can take money out as needed until the limit is reached, and as money is repaid, it can be borrowed again in the case of an open line of credit. A LOC is...
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a A line of credit is generally an informal agreement ...View the full answer
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Related Book For 
Foundations of Finance The Logic and Practice of Financial Management
ISBN: 978-0132994873
8th edition
Authors: Arthur J. Keown, John D. Martin, J. William Petty
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