Help 7 FIUMISHI a won von Lan canviavaj Harper Engine Company needs $647,000 to take a cash discount of 2.50/15, net 120. A banker will loan the money for 105 days at an interest cost of $12,500. 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 ellook Hint Print b. How much would it cost (in percentage terms) if Harper did not take the cash discount but paid the bill in 120 days instead of 15 days? (Use a 360-day year. Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.) % References Cost of not taking a cash discount c. Should Harper borrow the money to take the discount? Yes No 10 points Save & Ex Che 7 d. If another banker requires a 10 percent compensating balance, how much must Harper borrow to end up with $647,000? (Round your answer to 2 decimal places.) Amount to be borrowed ellook Hint e-1. What would be the effective interest rate in part of if the interest charge for 105 days were $13,300? (Use a 360-day year. Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.) Print Effective rate of interest References e-2. Should Harper borrow with the 10 percent compensating balance requirement? (There are no funds to count against the compensating balance requirement.) Yes No 10 points Check m