Problem $8-17($Static$)$ Effective rate under different terms $[$LO$8-2]$

Your company plans to borrow $$13$ million for $12$ months, and your banker gives you a stated rate of $24$ percent interest.

Calculate the effective rate of interest for the following types of loans.

Simple $24$ percent interest with a compensating balance of $10$ percent.

Note: Use a $360-$day year. Input your answer as a percent rounded to $2$ decimal places.

Discounted interest $($with no compensating balance$).$

Note: Input your answer as a percent rounded to $2$ decimal places.

An installment loan $(12$ payments$).$

Note: Input your answer as a percent rounded to $2$ decimal places.

Discounted interest with a compensating balance of $5$ percent.

Note: Use a $360-$day year. Input your answer as a percent rounded to $2$ decimal places.