A company needs to acqurie $100 million in funds. Their bank offers a discounted loan at 10% and a compensating balance of 6%. What is the effective interest rate?

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rhodyri does not find this helpful : wasn't homework.

If it's not homework then it shouldn't be posted in the homework forum. You put it in the homework forum, which means that everyone that looks at your post answers it based on it being homework.

You should read the rules that you agreed to when you signed up to this site. Negative/unhelpful ratings, like the one you gave Just Looking, are for factually incorrect information only. Her post was dead on.

It's up to you, the person posting, to give us the information we need in order to help. Posting in the homework section gave Just looking enough info to post what she did, which are the rules of the site regarding homework questions.

You owe Just Looking an apology, especially if you want her help.

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rhodyri does not find this helpful : wasn't homework.
Comments on this post
rhodyri does not find this helpful : hold your breath on that apology.

First, may I call your attention to the guidelines for using the comments feature found here:

https://www.askmehelpdesk.com/feedback/using-comments-feature-24951.html

There was absolutely no call for your inappropriate and rude rating to Altenweg.

It really makes sense to insult the people you are asking for help from.