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What is the stated apr on the loan

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Question 1: The Colonial Window Treatments Company is borrowing $1.5 million. The loan requires a 19 percent compensating balance, and the effective interest rate on the loan is 11.8 percent. What is the stated APR on this loan? (Round answer to 3 decimal places e.g. 12.251%.)

Reference no: EM132600772

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