Greens Wholesalers presently uses an 80-day public warehouse agreement to finance most of its inventory. The average amount of inventory is $2,000,000, the bank lends Greens 70 percent of the value of the inventory, and the public warehouse fee is $200/day. Total transportation costs for the 80-day period make up 1 percent of the average value of the inventory [that is, (0.01)($2,000,000)], the prime rate is 4 percent, and the bank will loan at 6.5 percent above the prime rate.

Find the loan amount.

Find the interest.

Find other fees.

Find the APR.

Find the EAR.