Inspiration Savings Association is considering funding a package of new loans in the amount of $2,000 million. Inspiration has projected that it must raise $2,100 million in order to have $2,000 million available to make the new loans. It expects to raise $1,500 million of the total by selling time deposits at an average interest rate of 2.45 percent. Noninterest costs from selling time deposits will add an estimated 1.35 percent in operating expenses. Inspiration expects another $600 million to come from noninterest-bearing transaction deposits, whose noninterest costs are expected to be 1.50 percent of the total amount of these deposits. What is the Associations projected pooled-funds marginal cost rate? What hurdle rate must it achieve on the earning assets?

Group of answer choices

3.50%; 3.65%

2.14%; 2.41%

3.18%; 3.45%

3.14%; 3.30%