Answered ct Answer You would like to borrow 79,374 dollars for 1 year. Interest compounds annually, but it is pre-paid.

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Answered Ct Answer You Would Like To Borrow 79 374 Dollars For 1 Year Interest Compounds Annually But It Is Pre Paid 1 (27.44 KiB) Viewed 24 times

Answered ct Answer You would like to borrow 79,374 dollars for 1 year. Interest compounds annually, but it is pre-paid. You are quoted an interest rate of 13 %. There is also a compensating balance of 6 % associated with the loan. How much money should you borrow from the bank so you get to leave with 79,374 dollars to the nearest dollar? 94,455.06 97,992.59 margin of error +/-5 You need to borrow more than the desired amount since some of it stay behind. Think of the percentage you're