$8\mathrm{.}50\%,$ but you must make interest payments at the end of each quarter and then pay off the $$10,000$ principal amount at the end of the year. What is the effective annual rate on the loan?

$8\mathrm{.}99\%$

$8\mathrm{.}45\%$

$8\mathrm{.}24\%$

$9\mathrm{.}10\%$

$8\mathrm{.}77\%$