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Liz's Health Food Store has estimated monthly financing requirements for the next six months as follows: January $8,500 April $8.500 February 2.500 May 9.500 March

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Liz's Health Food Store has estimated monthly financing requirements for the next six months as follows: January $8,500 April $8.500 February 2.500 May 9.500 March 3,500 June 4,500 Short-term financing will be utilized for the next six months. Projected annual interest rates are: January February March 9.00 10.00 13.04 April 16.01 May 12.08 June 12.00 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.) Actual Interest Month January February March April Nate 9.01 100 1370 100 120 120 Short-term Financing On monthly basi Amount $8.500 $2,500 $3,500 58,500 $9,500 $4,500 $ $ Way Jone Annual interest rate

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