You are just about to finish up your business school degree and your family takes you out for a celebratory dinner. While at dinner, you are asked to share some current trends in business and marketing, since marketing is what you’re hoping to get into. What do you say? (Feel free to do a bit of online research if need be.)

Carey company is borrowing $225,000 for one year at 9.5 percent from second intrastate bank. the bank requires a 15 percent compensating balance. the principal refers to funds the firm can effectively utilize (amount borrowed − compensating balance). a. what is the effective rate of interest? (use a 360-day year. input your answer as a percent rounded to 2 decimal places.) b. what would the effective rate be if carey were required to make 12 equal monthly payments to retire the loan?