If Mega Corporation borrows $9,000 and agrees to pay the lender $10,000 in one year, the annual nominal interest rate on the loan is approximately _____.
A) 9.0%
B) 9.0%.
C) 10.0%
D) 10.0%.
E) 11.1%
F) 11.1%.
G) 0.9%.
H) 0.9%
Correct Answer:
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