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Shishuba Ltd has issued a R1 000 000 commercial paper for R992 000 for 60 days. Based on this information and assuming a 365-day year,

Shishuba Ltd has issued a R1 000 000 commercial paper for R992 000 for 60 days. Based on this information and assuming a 365-day year, the effective annual rate of interest on the commercial paper would be ... 1. 5.00%. 2. 5.65%. 3. 6.29%. 4. 7.61%

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