AXN Sdn Bhd needs to raise RM1, 000,000 in short-term loan for five months. loan from OCBCbank at discounted interest ra
Posted: Sun Jul 03, 2022 12:57 pm
AXN Sdn Bhd needs to raise RM1, 000,000 in short-term loan forfive months. loan from OCBCbank at discounted interest rate of 12%per annum and a 20% compensating balance. Thepresent accountbalance in the company is RM 100,000. Compute the effective cost offinancing.