Bank of Melbourne has granted a two million loan to Qantas Ltd. with an annual 0.1 loan
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Bank of Melbourne has granted a two million loan to Qantas Ltd. with an annual 0.1 loan rate. The bank keeps a capital ratio of 8% under Basel Accord III and requires a minimum compensating balance ratio of 0.1. Qantas has paid $5704 as loan origination fee to the bank. What is the gross return rate of this loan?
Related Book For
Accounting Business Reporting for Decision Making
ISBN: 9780730302414
4th edition
Authors: Jacqueline Birt, Keryn Chalmers, Albie Brooks, Suzanne Byrne, Judy Oliver
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