If Mega Corporation borrows $8,000 and agrees to pay the lender $9,000 in one year, the annual interest rate on the loan is approximately _____.
A) 9.0%
B) 9.0%.
C) 10.5%
D) 10.5%.
E) 12.5%.
F) 12.5%
G) 11.8%.
H) 11.8%
Correct Answer:
Verified
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