QUESTION 2 A company needs $1.000.000 million for 5 months. A bank agreed to lend the $1 million 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? 9.50% QUESTION 1 Calculate the effective cost of the folowing trade credit term when payment is made on the net due date, 2/15, net 65