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Ajax Box Company is negotiate with two banks for a$100000 loan.Midland Bank requires a 20 percent compensating balance,discount the loan and wants to be paid back in four quarterly payment.Centrial Bank requires a 10 percent compensating balance and does not discount the loan,but it wants to be paid back in 12 monthly installment.The stated rate at both bank is 8 percent.compensating balances and any discounts will be subtracted from the $100000 in determining the available funds in part a.
a) Which loan should Ajax accept?
b)Recompute the annual cost of interest.assuming Ajax ordinarily maintain $ 20000 at each bank n deposit that will serve as compensating balances.
c) How much did the compensating balances inflate the percentage interest cost? Does your choice of banks change if the assumption in part b is correct?
Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..
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