Question: If Analog computers can borrow at 9.1% annually for three years, what is the effective rate of interest on a $765,000 loan where a 20%

If Analog computers can borrow at 9.1% annually for three years, what is the effective rate of interest on a $765,000 loan where a 20% compensating balance is required?

8.67%

16.67%

11.37%

14.12%

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