The ABC Company paid total interest of $2,000 on its line of credit borrowings for the year.ABC paid a $100 commitment fee on an average borrowing of $20,000 for the year.What is ABC's annual effective rate of interest?

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The Answer of The ABC Company paid total interest of $2,000 on its line of credit borrowings for the year.ABC paid a $100 commitment fee on an average borrowing of $20,000 for the year.What is ABC's annual effective rate of interest?

The ABC Company Paid Total Interest of $2,000 on Its