summit Record Company is negotating with two banks for a $134,000 loan. tour Fidelity Bank requires a compensating balance of 18 percent, discounts the loan, and wants to be paid back in f wii be subtracted from the $134.,000 in determining the available funds in part n-1. calculate the eflective imterest rate for Fideity Bank and Southwest Bank (oo not round intermediate calculations, Input your answers as a percent rounded to 2 decimal for both banks is 12 percent. Compensating balances places of Interest a-2. which loan shoud Summn accepr? Soutwest Bank 9 Fidelity Bank b. Recompute the elfective cost of interest, assuming that summit ordinanly maintains $24 120 at each bank in deposts that will serve as compensating baiances (Do not round intermediate calculations. Input your answers as a percert rouhded to 2 decimal places.) of Interest