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What could count toward meeting any compensating balance

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Reference no: EM132579327

Question 1: The treasurer of Brandon Blue Sox is seeking a $39,000 loan for 180 days from the Brandon Credit Union. The stated interest rate is 15 percent and there is a 20 percent compensating balance requirement. The treasurer always keeps a minimum of $3,400 in the firm's chequing account. These funds could count toward meeting any compensating balance requirements.

Reference no: EM132579327

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