Question: Please answer both questions or I will downvote, thanks! The Treadwater Bank wants to raise $1.46 million using three-month commercial paper. The net proceeds to

Please answer both questions or I will downvote, thanks! The Treadwater Bank wants to raise $1.46 million using three-month commercial paper. The net proceeds

Please answer both questions or I will downvote, thanks!

The Treadwater Bank wants to raise $1.46 million using three-month commercial paper. The net proceeds to the bank will be $1,439,560. What is the effective annual rate (EAR) of this financing for Treadwater? The effective annual rate is %. (Round to two decimal places.) The Ohio Valley Steel Corporation has borrowed $5.2 million for one month at a stated annual rate of 9.1%, using inventory stored in a field warehouse as collateral. The warehouser charges a $5,500 fee, payable at the end of the month. What is the effective annual rate of this loan? The effective annual rate is %. (Round to two decimal places.)

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