A company needs $1,000,000 million for 5 months. A bank agreed to lend the $1 million at a rate of 9.5 percent per annum, using a loan secured by the companys inventory of widgets. A field-warehouse agreement would be used, which would cost this company $2,500 a month. What is the APR for this loan?

		11.50%
		8.50%
		12.50%
		9.50%
		10.50%