Question: Cray Computing needs a 6 - month loan for $ 3 0 0 , 0 0 0 . Its bank quotes a simple interest rate
Cray Computing needs a month loan for $ Its bank quotes a simple interest rate of on the loan.
a What is the annual percentage rate APR
b What is the effective annual rate EAR
c What is the period rate if there is a compensating balance requirement of of the loan amount?
d What is the annual percentage rate APR if there is a compensating balance requirement of of the loan amount?
e What is the effective annual rate EAR if there is a compensating balance requirement of of the loan amount?
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