Question: answer this with solution 2 points How much is the effective cost if you need to borrow $350,000 for one year with 9% single payment

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2 points How much is the effective cost if you need to borrow $350,000 for one year with 9% single payment interest and a 15% compensating balance. * O 2.04% O 17.65% O 8.7% 12% 20.28%

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