GFOA Exam CPFO Topic 6 Question 10 Discussion

Actual exam question for GFOA's CPFO exam

Question #: 10
Topic #: 6

If the $20,000 is loaned at a stated interest rate of 10%with the requirement that an 18% minimum compensating balance be kept, the APR (annual percentage rate) is:

A12.07%

B12.00%

C12.2%

D13%

Show Suggested Answer

Suggested Answer: C

by Ahmed at May 05, 2022, 03:27 PM

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