Your company plans to borrow $5 million for 12 months, and your banker gives you a stated rate of 8 percent interest.

Calculate the annual rate of interest for the following types of loans.

Simple 8 percent interest with a 10 percent compensating balance.(Use 365 days a year. Round the final answer to 2 decimal places.)

Annual rate%

Discounted interest.(Use 365 days a year. Round the final answer to 2 decimal places.)

Annual rate%

An installment loan (12 payments).(Round the final answer to 2 decimal places.)

Annual rate%

Discounted interest with a 1 percent administration fee.(Round the final answer to 2 decimal places.)

Annual rate%

The formula i am using is not giving me the right answer for these practice questions. im using the Interest/price X 365/Days but i cant seem to get to the right answer. would you be able to show me how to use the formulas for this question.