Your company plans to borrow $11 million for 12 months, and your banker gives you a stated rate of 22 percent interest. Calculate the effective rate of interest for the following types of loans. (a) Simple 22 percent interest with a 22 percent compensating balance. (Round your answer to 2 decimal places. Omit the "%" sign in your response.) Effective rate % (b) Discounted interest. (Round your answer to 2 decimal places. Omit the "%" sign in your response.) Effective rate % (c) An installment loan (12 payments). (Round your answer to 2 decimal places. Omit the "%" sign in your response.) Effective rate % (d) Discounted interest with a 11 percent compensating balance. (Round your answer to 2 decimal places. Omit the "%" sign in your response.) Effective rate %