Determine the annual financing cost of a 1-year (365 day), $10,000 discounted bank loan at a stated

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Determine the annual financing cost of a 1-year (365 day), $10,000 discounted bank loan at a stated annual interest rate of 9.5 percent. Assume that no compensating balance is required.

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Contemporary Financial Management

ISBN: 9780324289114

10th Edition

Authors: James R Mcguigan, R Charles Moyer, William J Kretlow

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Question Posted: Jul 17, 2012 04:14 AM

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Determine the annual financing cost of a 1-year (365 day), $10,000 discounted bank loan at a stated

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Contemporary Financial Management

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