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At CryptoBank, a $100,000 loan for one year has a quoted interest rate of 10.60% payable annually but with a compensating balance of 20%. At

At CryptoBank, a $100,000 loan for one year has a quoted interest rate of 10.60% payable annually but with a compensating balance of 20%. At MoBank, a $100,000 discount loan has a quoted interest rate of 8.70% payable annually. The loan at MoBank is ______ per year cheaper than that at CryptoBank.

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