Harper Engine Company needs $611,000 to take a cash discount of 2.50/10, net 75. A banker will loan the money for 65 days at an interest cost of $16,200. a. What is the effective rate on the bank loan? (Use a 360-day year. Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)

effective rate of interest- ?%

b. How much would it cost (in percentage terms) if Harper did not take the cash discount but paid the bill in 75 days instead of 10 days? (Use a 360-day year. Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)

cost of not taking a cash discount- ?%

d. If another banker requires a 10 percent compensating balance, how much must Harper borrow to end up with $611,000? (Round your answer to 2 decimal places.)

amount to be borrowed-?

e-1. What would be the effective interest rate in part d if the interest charge for 65 days were $10,600? (Use a 360-day year. Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)

the effective rate of interest- ?%