Liz$$s Health Food Store has estimated monthly financing requirements for the next six months as follows:

January $$8,100$ April $$8,100$

February $2,100$ May $9,100$

March $3,100$ June $4,100$

Short$-$term financing will be utilized for the next six months. Projected annual interest rates are:

January $5\mathrm{.}0\%$ April $12\mathrm{.}0\%$

February $6\mathrm{.}0\%$ May $12\mathrm{.}0\%$

March $9\mathrm{.}0\%$ June $12\mathrm{.}0\%$

Complete the table below and using the data computed, what is the expected annual rate of the short$-$term financing? Hint: Divide the total interest payments by the total amount of funds extended and multiply by $12.($Round intermediate calculations and final answers to $2$ decimal places.$)$

Short$-$term Financing

Month Rate On monthly

basis Amount Actual

interest amount

January

$\%$

$\%$ $$8,100$ $

February

$\%$

$\%$ $$2,100$ $

March

$\%$

$\%$ $$3,100$ $

April

$\%$

$\%$ $$8,100$ $

May

$\%$

$\%$ $$9,100$ $

June

$\%$

$\%$ $$4,100$ $

$

Annual interest rate

$\%$