Juno industrial supply has a 150000 line of credit with a

Reference no: EM13618385

Juno Industrial Supply has a $150,000 line of credit with a 6.5 percent interest rate. The loan agreement requires a 2 percent compensating balance, which is based on the total amount borrowed, and which will be held in an interest-free account. What is the effective interest rate if the firm borrows $91,800 on the line of credit for one year?

Reference no: EM13618385

Questions Cloud

Consider the bivariate density fxycxy for 0ltxlt1 : consider the bivariate density fxycxy for 0ltxlt1 0ltylt1a obtain the appropriate normalization constant c.b obtain the

Determine confidence intervals for each of the : determine confidence intervals for each of the followinga. mean 150 s 30 sample size 200 confidence level 95b.

A brand name has a 40 recognition rate assume the owner of : a brand name has a 40 recognition rate. assume the owner of the brand wants to verify that rate by beginning with a

The bear rug has sales of 822500 the cost of goods sold is : the bear rug has sales of 822500. the cost of goods sold is equal to 63 percent of sales. the beginning accounts

Juno industrial supply has a 150000 line of credit with a : juno industrial supply has a 150000 line of credit with a 6.5 percent interest rate. the loan agreement requires a 2

When the pressure in the tank reaches 700 kpa the entire : 3 rigid tank initially contains refrigerant-134a at 14oc. at this state 70 of the mass is in the vapour phase and the

The chairman of the federal reserve ben bernanke is faced : during the carter administration long-term us treasury yields exceeded 15 and short-term t-bills yielded near 20. after

Asuming the velocity is a parabolic function of v0 1-tt02 : an elevator moves downwards at a constant velocity v0. while descending at a particular height assuming t0 the velocity

On june 30 of the current year rural gas amp electric co : on june 30 of the current year rural gas amp electric co. issued 50000000 face value 9 percent 10-year bonds payable

User Account

All Pages