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Jumbo Enterprises plans to borrow R1 000 000 for one year. The stated interest rate...

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Accounting

Jumbo Enterprises plans to borrow R1 000 000 for one year. The stated interest rate is 15% per annum. Required: Use the information provided above to calculate the effective interest rate if: 4.3.1 the interest is discounted (3) 4.3.2 there is a 25% compensating balance requirement

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