What interest rate would make it worth incurring a $19,000 compensating balance to get a 1 percent lower interest rate on a $270,000 one-year pure discount loan? (Negative amount should be indicated with a minus sign. Do not round intermediate calculations. Round your final answer to 2 decimal places.)

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To determine the interest rate that would make it worth incurring a 19000 compensating balance to ge... View the full answer