2. (30 points) Last Bank of Podunk is lending a business $150,000. The loan has a 6% stated interest rate and matures in 1-year. In each case below tell 1) how much you borrow and 2) compute the actual interest rate on the loan (show answer in percent with two decimal places). a) The loan requires a 25% compensating balance. b) The loan is a discount loan where the interest is taken from the proceeds at the beginning of the loan. c) The loan is structured as an installment loan with add-on interest requiring 12 monthly pay- ments. 2. (30 points) Last Bank of Podunk is lending a business $150,000. The loan has a 6% stated interest rate and matures in 1-year. In each case below tell 1) how much you borrow and 2) compute the actual interest rate on the loan (show answer in percent with two decimal places). a) The loan requires a 25% compensating balance. b) The loan is a discount loan where the interest is taken from the proceeds at the beginning of the loan. c) The loan is structured as an installment loan with add-on interest requiring 12 monthly pay- ments