The clarkson designer company wants to borrow 750000 the, Financial Management

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The clarkson designer company wants to borrow 750000 the

The Clarkson Designer Company wants to borrow $750,000. The bank will provide the loan at an APR of 6.546. Since the loan calls for a compensating balance, the effective interest rate is actually 9.039 percent. What is the compensating balance on this loan? (Round answer to 1 decimal place, e.g. 12.2%.)

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Financial Management: The clarkson designer company wants to borrow 750000 the

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Financial Management: The clarkson designer company wants to borrow 750000 the

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