The york company has arranged a line of credit that allows it to borrow up to $50 milion at any time. the interest rate is .626 percent per month. additionally, the company must deposit 4 percent of the amount borrowed in a non-interest bearing account. the bank uses compound interest on its line-of-credit loans. what is the effective annual rate on this line of credit?

The school cafeteria can make pizza for approximately $0.30 a slice. the cost of kitchen use and cafeteria staff runs about $200 per day. the pizza den nearby will deliver whole pizzas for $9.00 each. the cafeteria staff cuts the pizza into eight slices and serves them in the usual cafeteria line. with no cooking duties, the staff can be reduced by half, for a fixed cost of $75 per day. should the school cafeteria make or buy its pizzas?