You have worked on a line of credit arrangement that allows you to borrow up to $35 million at any time. The interest rate is .52 percent per month. In addition, 2.5 percent of the amount that you borrow must be deposited in a non interest bearing account. Assume your bank uses compound interest on its line of credit loans. What is the effective annual interest rate on this lending arrangement? Seleccione una: O a. 6.72 percent O b. 6.94 percent O c. 6.59 percent O d. 6.87 percent O e. 6.42 percent