What is the effective annual interest rate for a 1-year 100 million loan with a stated interest rate of 8%, if the lending bank requires a non-interest bearing compensating balance in the amount of 5 million? A. 7.62% B. 8.00% C. 8.42% D. 13.00% 相关知识点: 试题来源: 解析 C ...
8% is the stated rate of interest. The effective annual interest rate on a loan with a compensating balance when no interest is received on the compensating balance is the annual interest due divided by the net funds the borrower will have available to use. That will be a different rate ...
What is the effective annual interest rate for a 1-year $100 million loan with a stated interest rate of 8%, if the lending bank requires a non-interest bearing compensating balance in the amount of $5 million?A. 7.62% B. 8.00% C. 8.42% D. 13.00% 正确答案:C 分享到: 答案解析: ...
Currently, the average personal loan interest rate hovers around 12% to 13%. However, it's important to note that this figure is just a benchmark, and individual rates can vary widely based on several factors. Let's take a look at the state of personal loan rates right now, and what ...
What is the interest rate on a loan of $8,000 with a payment of $222.65 per month for 4 years? Loan Amount The loan amount refers to the borrowed amount from the third party. The third party can be banks, financial institutions, an individual or any entity...
When you apply for a car loan, a lender uses your credit report and credit score as main factors to determine the loan terms you receive. A bankruptcy on your credit report does significant damage. Anyone with a recent bankruptcy may have difficulty gett
An interest rate above the national average on a personal loan may be a high rate, but it depends on your financial credentials. Learn more here.
12 % Simple Interest Per annum Answer:B) 6 % Simple Interest Per annum Explanation: The accepted rate of interest on a partner's loan account in the absence of a partnership deed in a partnership firm is 6 % Simple Interest Per Annum. ...
Often, this minimum is designed to cover any costs associated with processing and servicing the loan. An interest rate floor is often present through the issuing of an ARM, as it prevents interest rates from adjusting below a preset level. Key Takeaways Contracts and loan agreements often incl...
For loans, the interest rate is applied to the principal, which is the amount of the loan. The interest rate is thecost of debtfor the borrower and the rate of return for the lender. The money to be repaid is usually more than the borrowed amount since lenders require compensation for ...