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Analog Computers needs to borrow $800,000 from Midland Bank

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Analog Computers needs to borrow $800,000 from the Midland Bank. The bank requires a 15% compensating balance. How much money will Analog need to borrow in order to end up with $800,000 spendable cash?

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This solution is comprised of a detailed explanation to answer how much money will Analog need to borrow in order to end up with $800,000 spendable cash.

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