$2)$ A lender offers a loan of $$10,000$ for a term of one year and will charge $$900$ in interest. Explain how to calculate the flat interest rate.

$3)$ For the loan in Q$2,$ explain how to calculate the monthly loan repayments.

Note this is a $$simple interest$$ loan NOT a reducing principal loan. Repayments must include both principal and interest.

$4)$ For the loan in Q$2,$ what is the loan term.

The loan term is expressed in months.

$5)$ For the loan in Q$2,$ what are the risks for the borrower in taking out this loan. Assume it is unsecured.

What events could occur that may impact on the borrower?