> Moving to another question will save this response. uestion 12 Assume that Ningbo Steel borrows $2,000,000 for one year under a line of credit with a stated interest rate of 9.5 percent and a 10 percent compensating balance and that the firm keeps account. Based on this information, the effective annual interest rate on the loan is 19.5%. 21.1%. O 10.6%. A Moving to another question will save this response. > Moving to another question will save this response. uestion 12 Assume that Ningbo Steel borrows $2,000,000 for one year under a line of credit with a stated interest rate of 9.5 percent and a 10 percent compensating balance and that the firm keeps account. Based on this information, the effective annual interest rate on the loan is 19.5%. 21.1%. O 10.6%. A Moving to another question will save this response