=+b. What is Scientific Softwares effective annual rate of interest if it borrows $100,000 for 12 months?
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=+b. What is Scientific Software’s effective annual rate of interest if it borrows
$100,000 for 12 months? For 6 months? For 3 months? (Note: Assume a 365-
day year and a prime rate that remains at 8.5% during the life of the loan.)
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Related Book For 
Principles Of Managerial Finance
ISBN: 9781292261515
15th Global Edition
Authors: Chad J. Zutter, Scott Smart
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