A $$10,000,12\%$ one$-$year stated rate loan, made on a discount basis, has an annual effective rate of: $12\%.13\mathrm{.}6\%.14\%.11\%.$ A $$10,000,12\%$ one$-$year stated rate loan, made on a discount basis, has an annual effective rate of: $12\%.13\mathrm{.}6\%.14\%.11\%.$