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Calculate the effective annual interest rate

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Reference no: EM132487605

A 510,000 bank loan has a stated interest rate of 10 percent.

Question (a) Calculate the effective annual interest rate if the loan is on a discount basis.

Question (b) Calculate the effective annual interest rate if the loan requires a minimum compensating balance of 20 percent and it is on a discount basis.

Question (c) Calculate the effective annual interest rate if the loan requires a 25 percent compensating balance but it is on a collect or regular basis

Reference no: EM132487605

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