If you borrow $2 million for 7.5 months, calculate your annual effective rate of interest under each of the following independent terms:

(a)$112,500 interest payable at the end of the loan period

(b)$112,500 interest payable at the beginning of the loan period ( discounted loan)

(c)7% interest with a 10% compensating balance.

(d)7% interest with a $10,000 lenders fee, both payable at the end of the loan period

(e)7% interest with a compensating balance of $100,000

(f)Discounted interest at a rate of 8%