1. for a three-month loan of 25,000 with an annual interest rate of 8% determines the apr of a discount loan with a 10% compensating balance
2. you need to transfer $100,000 from high point to any city. if you mail a check it will cost 2.50 for postage and clearing the check and it will take five days for the funds to be transferred. during this time you will not be earning any interest which is currently 2.5% APY. however by sending a wire transfer that costs $25.00 the funds will instantaneously transfer with no float. How much does the wire transfer save you compared to the cost of having the check mailed?