Rastoon Ltd borrowed R250 000 for one year under a revolving credit agreement that authonsed and guaranteed the frm access to R350 000 The revolving credit agreement had a stated interest rate of 7 5% and charged the firm a 2% commitment fee on the unused portion of the agreement Based on this information, the effective annual rate on the loan was (assume 360 days in a year) 1 75% 2 79% 83% 495%