please show steps $($don$$t use excel$)$

At CryptoBank, a $$100,000$ loan for one year has a quoted interest rate of $11\mathrm{.}50\%$ payable annually but with a compensating balance of $15\%.$ At MoBank, a $$100,000$ discount loan has a quoted interest rate of $9\mathrm{.}00\%$ payable annually. The loan at MoBank is $\_\_\_\_\_\_$ per year cheaper than that at CryptoBank.

a$.$

$4\mathrm{.}37\%$

b$.$

$1\mathrm{.}82\%$

c$.$

$1\mathrm{.}21\%$

d$.$

$5\mathrm{.}10\%$

e$.$

$3\mathrm{.}64\%$

the answer is not a