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The Houser Company has negotiated a $500,000 revolving credit agreement with Chitwood National Bank.

The agreement calls for an interest rate of10% on fund used, a15% compensating balance, and a commitment fee of1% on the unused amount of the credit line. Assuming that the compensating balance would not otherwise be maintained, the effective annual interest cost if the firm borrows $200,000 for one year is closest to

 

11.5 percent.

 

15 percent.

 

26.5 percent.

 

13.53 percent.

Accounting Information Management Audit Management Project Management Management
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Question added by Emad Mohammed said abdalla , ERP & IT Software, operation general manager . , AL DOHA Company
Date Posted: 2015/03/31
Upvote (3) Views (12) Followers (11) Answers (10) Report Question
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As Saleh
by As Saleh , Recruitment Manager , Saudi House Recruitment

****************** the answer is 11.5 percent.**************************

Wasi Rahman Sheikh
by Wasi Rahman Sheikh , WAREHOUSE SUPERVISOR , AL MUTLAQ FURNITURE MFG

13.53 percent    ,,,,,,,,,,,,,,,,,,,,,,,,,,,,Answer <<<<<<<<<<<

Ayoub Tartir , PMP, GWCPgM, CISA, CISSP, CAP, CSSLP, FITSP-D, CEH, CHFI, CCNA, CCNA Security, Security+, Network+

Thanks for the invitation. Sorry I do not know the exact answer.

Wolf Klaas Kinsbergen
by Wolf Klaas Kinsbergen , Managing Director, Designer , ingenieursbureau KB International NV

I come close to13.5 percent

MUHAMMED HARIS MI
by MUHAMMED HARIS MI , Senior Audit Staff , Saud Bahwan Group LLC.

>>>>>>>>>>>>>My answer is last option ie.13.53%

Mohammed Fathe Shaheem
by Mohammed Fathe Shaheem , Operation Executive , Arabian Construction Company

Agreed to majority .....................................

Emad Mohammed said abdalla
by Emad Mohammed said abdalla , ERP & IT Software, operation general manager . , AL DOHA Company

>>>>>>>>>>>  The answer will be 13.53 percent.

Nasir Hussain
by Nasir Hussain , Sales And Marketing Manager , Pakistan Pharmaceutical Products Pvt. Ltd.

. .

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 .

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. 13.53 percent.

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Mir Mujtaba Ali
by Mir Mujtaba Ali , Internal Audit Manager , Confidential

13.53 percent

..........................

<<<<<<>>>>>>

Deleted user

 

Agreed to majority

Thanks-----------

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