Wells Fargo will offer your construction company a $100,000 line of credit at 6%APR compounded a monthly. Wells Fargo will assess a 10% compensating balance. Mutual of Omaha will offer your construction company a $100,000 line of credit at 6%APR compounded monthly. Mutual of Omaha will assess a 2% commitment fee. Assuming an average daily balance of $75,000, which line of credit option should you choose? Assume your company was invoiced $100,000 on Nov 1st by your gypsum board supplier. You submit payment on Nov 10th. For each of the trade credit terms below, 1) indicate what amount the checks should be written for AND 2) determine the effective annual interest rate of the discount. 1/15 net 30 1/10 net 20