Mark is looking to secure a small business loan. The first lender is offering $9\mathrm{.}25\%$ compounded weekly, whereas the second lender is offering $9\mathrm{.}4\%$ compounded semi$-$annually and the third lender is offering $9\mathrm{.}6\%$ compounded annually. Mark chose the loan that offers the lower effective rate.

What is the effective rate of the loan that he chose? $[$Blank$-1]$