If Mega Corp.borrows for $9,000 in 2000 and agrees to pay the lender $10,500 in one year, the interest rate on this loan is approximately:

Name: If Mega Corp.borrows for $9,000 in 2000 and agrees to pay the lender $10,500 in one year, the interest rate on this loan is approximately:
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The interest rate is calculated as (Interest/Principal) * 100. The interest is $10,500 - $9,000 = $1,500. So, the interest rate is ($1,500/$9,000) * 100 = 16.7 percent.