ABC will be acquiring a P4,000,000 loan from XYZ Bank. The detail are 6month term, 3% interest,

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ABC will be acquiring a P4,000,000 loan from XYZ Bank. The detail are 6‐month term, 3% interest, P40,000 bank charge
and P50,000 compensating balance.
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How much is the compound effective annual interest?

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Essentials of Managerial Finance

ISBN: 978-0324422702

14th edition

Authors: Scott Besley, Eugene F. Brigham

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Posted Date: Feb 29, 2024 03:55 AM

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ABC will be acquiring a P4,000,000 loan from XYZ Bank. The detail are 6month term, 3% interest,

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To calculate the compound effective annual interest on the loan from XYZ Bank we need to consider th... View the full answer

Essentials of Managerial Finance

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