In order to finance a shipment of badminton sets, Rujisawa Import-Export is seeking a $700,000 one-year bank
Question:
a) Which bank has the lowest effective interest rate? Please explain
b) If Lincoln Bank eliminated its compensating-balance requirement, would your answer change? Please explain.
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Related Book For
Intermediate Accounting
ISBN: 978-0470161012
9th Canadian Edition, Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.
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