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1. a. Calculate the annual effective cost of an $11,603 loan with an APR of 7.71%, compounded annually, with a compensating balance requirement of 11%

1. a. Calculate the annual effective cost of an $11,603 loan with an APR of 7.71%, compounded annually, with a compensating balance requirement of 11% b. Calculate the annual effective cost of a $21,777 loan with an APR of 4.43%, compounded annually, with a 1.28% loan origination fee c. Calculate the annual effective cost of a $21,981 loan with an APR of 5.99%, compounded monthly

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