Alonzo, the marketing director for a major retailer, prepared a unified message for the new promotional campaign. after several months, he noticed an increase in sales but realized he needed to compare the increase in sales against the cost of the campaign. alonzo is

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?