Question: If Analog computers can borrow at 9.5% annually for three years, what is the effective rate of interest on a $845,000 loan where a 12%

If Analog computers can borrow at 9.5% annually for three years, what is the effective rate of interest on a $845,000 loan where a 12% compensating balance is required? Note: Use 360 days in a year. Round your answer to 2 decimal places. Multiple Choice 8.10% 16.10% 10.80% 13.55%

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