illumination Bank has a loan lent to firm Minions. The interest rate charged for this loan is 21.5% per annum. The bank also charges various fees which amount to 3.9% of the loan amount per annum. The compensating balance (b) is 10%, and there is 10% reserve requirement (RR). What is the contractually promised rate of return on this loan? (Instructions: Please round your answer to at least 3 decimal place. Keep more decimal places if your answer is small. Please also keep your answer in decimals not percentage terms.) Answer: The correct answer is: 0.2791