Conway's Roofing Services Is Offered a $1 Million Line of Credit

question 66

Multiple Choice

Conway's Roofing Services is offered a $1 million line of credit for three months at an APR of 8%.The bank requires that the firm keep an amount equal to 12% of the loan principal in a non-interest-earning account with the bank as long as the loan remains outstanding.What is the actual three-month interest rate paid,expressed as an EAR?

• A)9.41%
• B)24.40%
• C)60.30%
• D)80.40%
• E)31.45%

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Motivations or justifications for actions based on principles of what is morally right and wrong.

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An interdisciplinary field of study that explores the processes, practices, and effects of leadership in various contexts.

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Premises or beliefs that may not be based on solid evidence or rationality, thus casting doubt on their validity.

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