Question: Data Back-up systems has obtained a $10,000, 90 day bank loan at an annual interest rate of 15%, payable at maturity.(365-day year) A. How much

Data Back-up systems has obtained a $10,000, 90 day bank loan at an annual interest rate of 15%, payable at maturity.(365-day year) A. How much interest (in dollars) will the firm pay on the 90-day loan? B. Find the 90-day rate on the loan. C. Annualize your results in part B to find the effective annual rate for this loan, assuming that it is rolled over every 90 days throughout the year under the same terms and circumstances

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