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Finance Assignment | Top Essay Writing

Scan Bookkeeping has a​ $200,000 compensating balance loan with its bank. The terms of the loan call for Scan to keep​ 5% of the loan as a compensating balance and pay interest at an annual rate of​ 6.50% on the entire amount. If the firm borrows the maximum amount for one​ year, how much interest is due at the end of the​year?

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