Diamantis Masoutis S.A., a Greek supermarket chain, borrowed 250,000 under a line-of-credit agreement. Although the company normally maintains a checking account balance of 15,000 in the lending bank, this credit line requires a 10% com pensating balance. The stated interest rate on the borrowed funds is 8%. What is the effective annual rate of interest on the line of credit? Diamantis Masoutis S.A., a Greek supermarket chain, borrowed 250,000 under a line-of-credit agreement. Although the company normally maintains a checking account balance of 15,000 in the lending bank, this credit line requires a 10% com pensating balance. The stated interest rate on the borrowed funds is 8%. What is the effective annual rate of interest on the line of credit