Question: rate. Do not round intermediate calculations. Round your answers to two decimal places. a . The nominal annual rate on the loan was 1 1

rate. Do not round intermediate calculations. Round your answers to two decimal places.

.

The nominal annual rate on the loan was

11.75 % .

What is the true effective rate?

%

.

What would be the effective cost of the loan if the note required discount interest?

%

.

What would be the nominal annual interest rate on the loan if the bank did not require a compensating balance but required repayment in three equal monthly installments?

%

rate. Do not round intermediate calculations. Round your answers to two

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