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What interest rate would make it worthwhile to incur a compensating balance of $

Business & Finance
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What interest rate would make it worthwhile to incur a compensating balance of $24,000 in order to get a 1 percent lower interest rate on a 1 year, pure discount loan of $295,000? 

Dec 15th, 2014

Solution for interest rate.xlsx 


Original interest rate of 9%. Solutions attached.

Jan 12th, 2015

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Dec 15th, 2014
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Dec 15th, 2014
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