Question: Help please. I need help with these 4 problems. Thank-You ge manufacturer needs a $100,000 loan to finance inventory. It can open a line of

Help please. I need help with these 4 problems. Thank-You

manufacturer needs a $100,000 loan to finance inventory. It can open a

rate. However, it must also maintain a 10 percent minimum compensating balance.

ge manufacturer needs a $100,000 loan to finance inventory. It can open a line of credit with a local bank at a 13 percent interest rate. However, it must also maintain a 10 percent minimum compensating balance. The effective interest rate on the loan is: a. 13 percent. b. 13.13 percent. c. 14.44 percent. d. 23 percent. 12. A lar

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