QUESTION 1 Calculate the effective cost of the following trade credit term when payment is made on the net due date, 2/15, net 65 QUESTION 2 6. A company needs $1,000,000 million for 5 months. A bank agreed to lend the $1 milion at a rate of 5.5 percent per annum using a loan secured by the company's Inventory of widgets. A field warehouse agreement would be used, which would cost this company $2.500 a month What is the APR for this loan