Question: the correct answer is shown. please show me the correct steps to arrive at the correct answer given. bu Answered rrect Answer You would like

the correct answer is shown. please show me the correct steps to arrive at the correct answer given.

bu Answered rrect Answer You would like to borrow 72,357 dollars for 1 year. Interest compounds annually, but it is pre-paid. You are quoted an interest rate of 12 %. There is also a compensating balance of 1 % associated with the loan. How much money should you borrow from the bank so you get to leave with 72.357 dollars to the nearest dollar? 81,763.41 83.168.97 margin of error +/-5 You need to borrow more than the desired amount since some of it stay behind. Think of the percentage you're leavin

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