What is the effective anual rate associated

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Aurora co. made a 30,000 1-year discount loan at 10% interest requiring a compenstating balance equal to 25% of the face value of the loan. what is the effective anual rate associated with this loan if this firm currently maintains 3,000 in its checking account?

Reference no: EM131356843

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What is the effective anual rate associated : Aurora co. made a 30,000 1-year discount loan at 10% interest requiring a compenstating balance equal to 25% of the face value of the loan. what is the effective anual rate associated with this loan if this firm currently maintains 3,000 in its check..

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