The treasurer of Aspire to Inspire Incorporated is seeking a $30,000 loan for 180 days from Wrigley Bank and Trust. The stated interest rate is 10 percent and there is a 15 percent compensating balance requirement. The treasurer always keeps a minimum of $2,500 in the firm's checking account. These funds could count toward meeting any compensating Balance requirement. What is the effective rate of interest on this loan?

Effective interest rate on the loan is 11.76%

Step-by-step explanation:

Here we have loan amount, Principal = $30,000

Duration of loan = 180 days

Interest on loan = 10% = 10% of $30,000 =  $3000  

Compensating balance = 15% of $30000 = $4,500

Available balance =  $30,000 -  $4,500 =  $25,500

Therefore, the effective interest rate is given by

Effective interest rate on the loan =  0.1176 or 11.76 %.

the total estimated nappy use.=10,500,000

step-by-step explanation:

given that on an average the average baby uses 3528 napkins.

in a particular year 2014, the number of births were 299697 in new south wales.

rounding off the number of births to the nearest hundred thousand we have

no of birtsh = 300000

also rounding off the average usage to nearst thousand we get

average use of a baby = 3500

hence total number of nappy estimated to be used = 3500x300000

= 10,500,000

answer is 10,500,000 nappies

step-by-step explanation: