Your compary has arranged a revolving credit agrecment for up to $80 million at an interest rate of 1.49 percent per quartet. The agreernert also requires your company to maintain a compensating balance of 6 percent of the unused portion of the credit line, io be deposited in a aconinterest-beating account. Your company's short-term imvestment account at the sarre bank pays an interest rate of 63 per quarter. Whisf is the effective annual interest rate if your company borrows $45 mation for one year? Your compary has arranged a revolving credit agrecment for up to $80 million at an interest rate of 1.49 percent per quartet. The agreernert also requires your company to maintain a compensating balance of 6 percent of the unused portion of the credit line, io be deposited in a aconinterest-beating account. Your company's short-term imvestment account at the sarre bank pays an interest rate of 63 per quarter. Whisf is the effective annual interest rate if your company borrows $45 mation for one year