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A supplier is offering your firm a cash discount of 2 percent ifpurchases are paid for within ten days; otherwise the bill is dueat the end of sixty days. Would you recommend borrowing from a bankat an 18 percent annual interest rate to take advantage of the cashdiscount offer? Explain your answerBank A offers loans with a 10 percent stated annual rate and a 10percent compensating balance. You wish to obtain $250000 in a sixmonth loan.a. how much must you borrow to obtain $250000 in usable funds ifyou currently have $30000 on deposit at the bank?b. what is the effective annual rate on a six month loan?