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Tina Mier must pay a $6,000 furniture bill. A finance company will loan Tina $6,000 for 8 months at a 7.50% discount rate. The financ

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Tina Mier must pay a $6,000 furniture bill. A finance company will loan Tina $6,000 for 8 months at a 7.50% discount rate. The financ company told Tina that if she wants to receive exactly $6,000, she must borrow more than $6,000. The finance company gave Tina the following formula: What to ask for =1(DiscountrateTimeofloan)Amountofcashtobereceived a. Calculate Tina's loan request. (Do not round intermediate calculations. Round your final answer to the nearest cent.) b. Calculate the effective rate of interest. (Do not round intermediate calculations. Round your final answer to the nearest hundredth percent.)

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