Problem 8-17 Effective rate under different terms (L08-2) Your company plans to borrow $12 million for 12 months, and your banker gives you a stated rate of 15 percent interest. Calculate the effective rate of interest for the following types of loans. a. Simple 15 percent interest with a compensating balance of 12 percent (Use a 360-day year. Input your answer as a percent rounded to 2 decimal placile.) Sective rate of interest b. Discounted interest (with no compensating balance). (Input your answer as percent rounded to 2 decimal places.) Erective role of trust c. An Intiment loan (12 payments) Input your answer as a percent rounded to 2 decimal places) the rate of in d. Discounted interest with a compensating balance of 6 percent (Use a 360-day year. Input your answer as a percent rounded to 2 decimal places) Elective rate of interest