Assume that you would normally not carry any bank balance

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Reference no: EM13470516

Your firm is considering the following three alternative bank loans for $1,000,000:

a) 10% loan paid at year end with no compensating balance

b) 9% loan paid at year end with a 20% compensating balance

c) 6% loan that is discounted with a 20% compensating balance requirement

Suppose that you would normally not carry any bank balance that would meet the 20% compensating balance requirement. What is the rate of annual interest on each loan?

Reference no: EM13470516

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