Your company plans to borrow $12 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 compensating balance of 20 percent (Use a 360-day year. Input your answer as a percent rounded to 2 decimal places.) Effective rate of interest % b. Discounted interest (with no compensating balance). (Input your answer as percent rounded to 2 decimal places.) Elective role of interest % c. An installment loan (12 payments) input your answer os e percent rounded to 2 decimal places.) Efective rate of interest d. Discounted interest with a compensating balance of 10 percent (Use o 360-day year input your answer os o percent rounded to 2 decimal places.) Effective rate of interest Your company plans to borrow $12 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 compensating balance of 20 percent. (Use a 360-day year. Input your answer as a percent rounded to 2 decimal places.) Elfective rate of interest 9 b. Discounted interest (with no compensating balance) (Input your answer as percent rounded to 2 decimal places.) Effective rate of interest 34 c. An installment loan (12 payments). (Input your answer as a percent rounded to 2 decimal places.) Effective rate of interest 9 d. Discounted interest with a compensating balance of 10 percent (Use o 360-day year. Input your answer as a percent rounded to 2 decimal places.) Elective rate of interest