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Mathematics, 30.11.2020 18:20 linz6227

12. Maxim Air Filters Inc. plans to borrow $300,000 for one year. Northeast National Bank will lend the money at 10 percent interest and requires a compen-

sating balance of 20 percent. What is the effective rate of interest?

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12. Maxim Air Filters Inc. plans to borrow $300,000 for one year. Northeast National Bank will lend...
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