On June 1, 1990, an investor buys three 14-year bonds, each with par value 1000, to yield an effective annual interest rate of i on each bond. Each bond is redeemable at par. You are given:the first bond is an accumulation bond priced at 195.63;the second bond has 9.4 percent semiannual coupons and is priced at 825.72; andthe third bond has 10 percent annual coupons and is priced at P. Calculate P. ADAPT Note: An accumulation bond is one that does not have any coupons.

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?