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  3. 1. if a company borrows $2,000,000 from a line of

1. If a company borrows $2,000,000 from a line of credit, it will be required...

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Finance

1. If a company borrows $2,000,000 from a line of credit, it will be required to (1) maintain a compensating balance in the amount of $80,000, (2) pay interest in the amount of $120,000, and (3) pay an up-front commitment fee in the amount of $4,000. What is this lending arrangement's EAR? round final answer to 2 decimals

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