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Hel P15-13 (similar to Compensating balance versus discount loan Weather Catering Supply in needs to borrow $147.000 for 6 months State Bank has offered to lend the funds at an annual rate of 8.7% subject to a 105% compensating balance (Note Weather currently maintains 50 on deposit in State Bank) FrostFinance Co has offered to lend the funds at an annual rate of 8.7with discount loan toms. The principal of both loans would be payable at maturity as a single sum a. Calculate the effective annual rate of interest on each an b. What could Weathers do that would reduce the effective annual rate on the State Bank loan? a. State Banks sem annual rate is (Round to two decimal places) pter 15