Assume slippy slides borrowed 17 million from west side, Financial Accounting

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Assume slippy slides borrowed 17 million from west side

Assume Slippy Slides borrowed $17 million from West Side Bank and agreed to (a) pay an interest rate of 7.0% and (b) maintain a compensating balance amount equal to 5.1% of the loan. Determine Slippy Slides' actual effective interest rate on this loan.

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Financial Accounting: Assume slippy slides borrowed 17 million from west side

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Financial Accounting: Assume slippy slides borrowed 17 million from west side

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