Burt$$s Department Store needs $$623,000$ to take a cash discount of $2\mathrm{.}50/10,$ net $85.$ A banker will loan the money for $75$ days at an interest cost of $$18,300.$

a$.$ What is the annual rate on the bank loan? $($Use $365$ days in a year. Do not round intermediate calculations. Round the final answer to $2$ decimal places.$)$

Annual rate

$\%$

b$.$ How much would it cost $($in percentage terms$)$ if Burt$$s did not take the cash discount and paid the bill in $85$ days instead of $10$ days? $($Use $365$ days in a year. Do not round intermediate calculations. Round the final answer to $2$ decimal places.$)$

Cost of not taking a cash discount

$\%$

c$.$ Should Burt$$s borrow the money to take the discount?

multiple choice $1$

No

Yes

d$.$ If the banker requires a $10$ percent compensating balance, how much must Burt$$s borrow to end up with the $$623,000?($Round the final answer to the nearest whole dollar.$)$

Amount to be borrowed $

e$-1.$ What would be the interest rate in part d if the interest charge for $75$ days were $$24,000?($Use $365$ days in a year. Do not round intermediate calculations. Round the final answer to $2$ decimal places.$)$

Annual rate

$\%$

e$-2.$ Should Burt$$s borrow with the $10$ percent compensating balance? $($There are no funds to count against the compensating balance requirement.$)$

multiple choice $2$

No

Yes