nila is trying to choose between leasing or buying an automobile. At the end of the three years, she wants to keep the automobile, but she will buy it back. how much more Nila will pay with the lease option versus the buy option at the end of the three years.

Carey company is borrowing $225,000 for one year at 9.5 percent from second intrastate bank. the bank requires a 15 percent compensating balance. the principal refers to funds the firm can effectively utilize (amount borrowed − compensating balance). a. what is the effective rate of interest? (use a 360-day year. input your answer as a percent rounded to 2 decimal places.) b. what would the effective rate be if carey were required to make 12 equal monthly payments to retire the loan?