If you borrow $3 million for 7 months, calculate your annual effective rate of interest to 2 decimal places (i.e. 12.42% should be stated as 12.42) under the following terms:

1. 7% interest with a 15% compensating balance

2. 7% interest with a $75,000 lenders fee, both payable at the end of the loan period.

3. 7% interest with a compensating balance of $300,000.

4. Discounted interest at a rate of 7.5%.