Examlex

Solved

Tangshan Mining Borrowed $100,000 for One Year Under a Line

question 65

Multiple Choice

Tangshan Mining borrowed $100,000 for one year under a line of credit with a stated interest rate of 7.5 percent and a 15 percent compensating balance. Normally, the firm keeps almost no money in its checking account. Based on this information, the effective annual interest rate on the loan is ________.


Definitions:

Genital Warts

A sexually transmitted infection caused by certain strains of the human papillomavirus (HPV), leading to the development of warts in the genital area.

Sexually Transmitted Infections

Diseases or infections that are transmitted through sexual contact, caused by bacteria, viruses, or parasites.

Human Papilloma Virus

A group of viruses that can cause warts on various parts of the body and are associated with several types of cancer, including cervical cancer.

Dysmenorrhea

Painful menstruation.

Related Questions