Business, 22.12.2021 14:00 ello17

Weathers Catering Supply, Inc., needs to borrow for months. State Bank has offered to lend the funds at an annual rate of subject to a compensating balance. (Note: Weathers currently maintains on deposit in State Bank.) Frost Finance Co. has offered to lend the funds at an annual rate of with discount-loan terms. The principal of both loans would be payable at maturity as a single sum. a. Calculate the effective annual rate of interest on each loan. b. What could Weathers do that would reduce the effective annual rate on the State Bank loan?

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Weathers Catering Supply, Inc., needs to borrow for months. State Bank has offered to lend the funds...

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