Question: > Moving to another question will save this response. Question 6 of 25 > >> Question 6 4 points Saved Penn Inc. needs to borrow

> Moving to another question will save this response. Question 6 of 25 > >> Question 6 4 points Saved Penn Inc. needs to borrow $250,000 for the next 6 months. The company has a line of credit with a bank that allows the company to borrow funds with an 7% interest rate subject to a 20% of loan compensating balance. Currently, Penn Inc. has no fund deposit with the bank and will need the loan to cover the compensating balance as well as their other financing needs. What will be the total interest amount for this financing? $11,250 $10,000 $12,500 $8,750 > Moving to another question will save this response. >> Type here to search

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