Question: please solve both problems. The Needy Corporation borrowed $10,700 from Bank Ease. According to the terms of the loan, Needy must pay the bank $345

please solve both problems.

The Needy Corporation borrowed $10,700 from Bank Ease. According to the terms of the loan, Needy must pay the bank $345 in interest every three months for the three-year life of the loan, with the principal to be repaid at the maturity of the loan. What effective annual rate (EAR) is Needy paying? The effective annual rate is \%. (Round to one decimal place.) The Treadwater Bank wants to raise $1.44 million using three-month commercial paper. The net proceeds to the bank will be $1,418,400. What is the effective annual rate (EAR) of this financing for Treadwater? The effective annual rate is %. (Round to two decimal places.)

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