Donna's Jerseys, an online retailer of half$-$and$-$half jerseys for fans of split loyalties, is

considering whether it wants to take out a $$50,000,9-$ month loan. Due to the somewhat risky

nature of its business, the lender is requiring prime $+3\mathrm{.}5($assume that the prime rate is

currently $6\%.)$ Also due to the risk involved, the lender is requiring that the loan be discounted.

Calculate the effective rate on this loan.