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Ket [755]
3 years ago
6

Cost of Bank Loans Gifts Galore Inc. borrowed $1.6 million from National City Bank. The loan was made at a simple annual interes

t rate of 12% a year for 3 months. A 25% compensating balance requirement raised the effective interest rate. Do not round intermediate calculations. Round your answers to two decimal places. The nominal annual rate on the loan was 11.5%. What is the true effective rate? % What would be the effective cost of the loan if the note required discount interest? % What would be the nominal annual interest rate on the loan if the bank did not require a compensating balance but required repayment in three equal monthly installments? %
Business
1 answer:
babymother [125]3 years ago
3 0

Answer: 23456

Explanation: its math

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LekaFEV [45]

Answer: $12,600

Explanation:

Based on the information that have been given in the question, the cash flow to stockholders for the year would be calculated as:

= Dividends Paid - (Ending Common Stock - Beginning Common Stock)

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= $4250 - [$41500 - $49850]

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5 0
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Brums [2.3K]

Answer: above-average profits

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8 0
2 years ago
List one thing you SHOULD do if your car loan suddenly becomes too expensive.
Sphinxa [80]

Answer:

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5 0
2 years ago
seth is thinking of a number between 20 and 30. the number is prime and not more than 2 away from a perfect square. what is the
elena-s [515]
23 is the answer because perfect square is between 20 and 30 is 25 and since the number is prime is has to be 23.
8 0
2 years ago
Which of the following is true of budgeting? Select one: a. Budgeting eradicates the need for keeping a buffer against uncertain
viva [34]

Answer:

The Correct Answer is "C"

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7 0
3 years ago
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