se the following information for questions 13 through 17. On September 16, a bank needs to issue $55 million of 180-day Eurodollar time deposits. The current rate of such time deposits is 7.25%. The bank is considering the alternative of issuing a 90 day time deposit at its current rate of 6.75% and selling a eurodollar futures contract. The effective borrowing rate over the 180 days is: Select one: O a. 6.92% . O b. 6.69% O c. 7.25% O d. 7.50%