Carmella has a small workshop where she has equipment to make ceramics. Much of the equipment was purchased 10 years ago. Recently, her workshop had a fire that destroyed a lot of her equipment. The insurance company has said that it will reimburse her for the amount she paid for the equipment 10 years ago. What type of insurance coverage was Carmella lacking

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?