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Assignment help 691

Calculate the effective rate for each of the following. Assume Company A will need to borrow $800,000 for 180 days. 

  • 1) A 14% bank loan
  • 2) A 13% APR, discounted bank loan

3) 12.5% APR with fees of 1% for receivables financing

  • 4A $2 million revolving-credit agreement with an APR of 12% with a commitment fee of 0.5% on the unused balance and a 10% compensating balance requirement.

PART A effective rateeffective interest rateanswer 14%0.150243 15.02% answer2at 13% 0.138802 13.88% answer 3at 13.5% 0.144508 14.45% answer 4at 13.5% 0.144508 14.45%


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