The lodge borrowed $2,000,000 for five years at an annual interest rate of 9% from the merchant bank, which required a $100,000 compensating balance. what was the effective interest rate for the loan? (rounded to the nearest tenth of one percent)

a) 9.0%
b)9.5%
c)10.0%
d)10.5%

Tony prince is the project manager for the recreation and wellness intranet project. team members include you, a programmer/analyst and aspiring project manager; patrick, a network specialist; nancy, a business analyst; and bonnie, another programmer/analyst. other people are supporting the project from other departments, including yusaff from human resources and cassandra from finance. assume that these are the only people who can be assigned and charged to work on project activities. recall that your schedule and cost goals are to complete the project in six months for under $200,000.task 2identify at least eight milestones for the recreation and wellness intranet project. write a short paper describing each milestone using the smart criteria. discuss how determining these milestones might add activities or tasks to the gantt chart. remember that milestones normally have no duration, so you must have tasks that will lead to completing the milestone.