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V Flag question The Kind Store is planning to borrow some funds for the next 9 months. They do not know how much they will

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V Flag question The Kind Store is planning to borrow some funds for the next 9 months. They do not know how much they will need as they would like to build a new office and are currently getting quotes from different builders. Kelowna Credit Union is wiling to lend to them at 4% but will require a 10% compensating balance. Find the annual effective rate of interest. Round you answer to 2 decimal places (e.g. 4.2596). . ] y B I III P& J 59

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