please explaine, Thanks

The treasurer of Brandon Blue Sox is seeking a $22000 loan for 180 days from the Brandon Credit Union. The stated interest rate h 12 . percent and there is a 20 percent compensating balance tequirement. The treasurer always keeps a mirimum of $1700 in the firin's. chequing account. These funds could count toward meeting any compensating batance requirements. What is the annual rate of interest on this loan? (Hint: If the interest rate is 12 percent per year and you're borrowing the money for lens than a year, then the interest cost is a portion of 12 percent times $22.000 ) (Use 305 days in o yeer. Do not round intermediate colculotions. Round the final answer to 2 decimal places.) Annual rate of interest If you borrow $3,300 at $450 interest for one yeat, what is your annual interest cost for the following payment plan? (Round the final answers to 2 decimal places.)