Nighthawk lighting company borrows 300000 for one year at


Nighthawk Lighting Company borrows $300,000 for one year at 7.00% interest. The loan is a discounted loan and also requires a compensating balance of 5%. What is the effective annual rate of interest on this loan?

Request for Solution File

Ask an Expert for Answer!!
Financial Management: Nighthawk lighting company borrows 300000 for one year at
Reference No:- TGS01176743

Expected delivery within 24 Hours