Charlie's Pets has an outstanding 180-day bank loan of $350.000 at an annual interest rate of 89% The company is required to maintain a 20% compensating balance in its chequing account What is the annual interest cost on the loan? The company has idle cash in the amount of $30.000 that will count toward the compensating balance Select one a 22 56% b. 20.38% 10 05% d 11 129