Mathematics, 14.02.2021 02:50, annamcda301

44 Matsuyama, Inc. needs to borrow $300,000 for 1 year at 7.00% interest. The
firm's bank offers a discount loan with a compensating balance of 3%. What
is the effective annual rate of interest (APR) for this loan?
t of 1
uestion
Select one:
O A. 7.96%
O B. 7.37%
O C. 7.00%
O D. 7.78%

Answers: 1

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44 Matsuyama, Inc. needs to borrow $300,000 for 1 year at 7.00% interest. The
firm's bank off...