OpMail Company CFO believes they will need to secure short-term financing to fund the company over the next six months. Based on market trends, the CFO projects the following interest rates (per annum):

January	6.0%		April	13.0%
February	7.0%		May	12.0%
March	10.0%		June	12.0%

The CFO predicts the company's funding requirements for the next six months are:

January		$8,700	April		$8,700
February		2,700	May		9,700
March		3,700	June		4,700

Complete the table below, and using the data computed, what is the expected annual rate of the short-term financing? (Submit your calculation on Moodle. Round intermediate calculations and final answers to 2 decimal places.)

Short-term Financing
Month	Rate	On monthly basis		Amount	Actual interest amount
January	%	%		$8,700	$
February	%	%		$2,700	$
March	%	%		$3,700	$
April	%	%		$8,700	$
May	%	%		$9,700	$
June	%	%		$4,700	$
					$

Annual interest rate %

The CFO predicts the company's funding requirements for the next six months are: Complete the table below, and using the data computed, what is the expected annual rate of the short-term financing? (Submit your calculation on Moodle. Round intermediate calculations and final answers to 2 decimal places.) Annual interest rate OpMail Company CFO believes they will need to secure short-1 market trends, the CFO projects the following interest rates (pe The CFO predicts the company's funding requirements for the Complete the table below, and using the data computed, what calculation on Moodle. Round intermediate calculations and The CFO predicts the company's funding requirements for the next six months are: Complete the table below, and using the data computed, what is the expected annual rate of the short-term financing? (Submit your calculation on Moodle. Round intermediate calculations and final answers to 2 decimal places.) Annual interest rate