Analog Computers Needs to Borrow $800,000 from the Midland Bank

question 47

Multiple Choice

Analog Computers needs to borrow $800,000 from the Midland Bank.The bank requires a 15% compensating balance.How much money will Analog need to borrow in order to end up with $800,000 spendable cash?

• A) $920,000.
• B) $1,058,264.
• C) $941,177.
• D) $800,000.

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