Harper Engine Company needs $623,000 to take a cash discount of 2.50/10, net 85. A banker will loan the money for 75 days at an Interest cost of $18,300. 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.) Answer is not complete. Effective rate of interest % e-1. What would be the effective interest rate in part d if the interest charge for 75 days were $16,300? (Use a 360-day year. Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.) Answer is not complete. Effective rate of interest %