Cheap Money Bank offers your firm a discount interest loan at 8.25 percent for up to $25 million and, in addition, requires you to maintain a 5 percent compensating balance against the amount borrowed. 10 points What is the effective annual interest rate on this lending arrangement? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) eBook Print Effective annual interest rate % References