Question $5$

If Mega Corp. borrows $$8,000$ and agrees to pay the lender $$9,000$ in one year, the annual interest rate on the loan is

approximately:

$12\mathrm{.}5\%$

There is not enough information given to determine the rate.

$9\mathrm{.}0\%$

$10\mathrm{.}5\%$