If you borrow $5 million for 9 months, calculate your annual effective rate of interest to 2 decimal places under the following terms 1.9% interest with a $50,000 tender's fee, both payable at the end of the loan period. ut of Answer 2 If you borrow $5 million for 9 months, calculate your annual effective rate of interest to 2 decimal places under the following terms: 1. 9% interest with a 10% compensating balance. utol Answer 3 Friendly Home Services expects sales of baskets to be $125,000 this year, an ordering cost of $75.00 per order, and carrying costs of $3.00 per basket. The price of a basket is $25 1. What is the economic ordering quantity? Answer: 4 If you borrow $5 million for 9 months, calculate your annual effective rate of interest to 2 decimal places under the following terms 1. $350,000 interest payable at the beginning of the loan period (discounted loan)