In a discount inter- est loan, you pay the interest payment up front. For example, if a 1-year loan is stated as $10,000 and the interest rate is 10%, the borrower pays .10 $10,000 = $1,000 immediately, thereby receiving net funds of $9,000 and repaying $10,000 in a year.

I have this question and i know the answer is 11.11 but im not sure how you came to this answer.

i got 10,000=9,000 x (1+r) but im not getting the right answer when I do this.

help please