An organization needs to borrow a large amount of cash to fund its expansion plan.

IIA IIA-ACCA Question Answer

An organization needs to borrow a large amount of cash to fund its expansion plan. Which of the following annual interest rates is least expensive?

7 percent simple interest with a 10 percent compensating balance.

7 percent simple interest paid at the end of each year.

7 percent discount interest.

7 percent compounding interest.

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