Gripp Corporation needs $780,000 to pay one of its suppliers. The bank requires a compensating balance of 15%. Since Gripp currently holds no funds at the lending bank, it has borrowed enough to cover for the compensating balance as well. To pay its suppliers, Gripp actually needs:
A. $750,000.
B. $720,000.
C. $665,000.
D. $663,000.
E. $723,000.
Answer: D
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A transition probability describes
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