5 Your company has arranged a revolving credit agreement for up to $74 million...
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Accounting
Your company has arranged a revolving credit agreement for up to $ million at an interest rate of percent per quarter. The agreement also requ your company to maintain a compensating balance of percent of the unused portion of the credit line, to be deposited in a noninterestbearing acc Your company's shortterm investment account at the same bank pays an interest rate of per quarter. What is the effective annual interest rate if company borrows $ million for one year?
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