MK bicycles has an opportunity to expand its business by purchasing one of its competitors. In in order to do this, MK will need to take out a loan. In in trying to decide between an attractive, short term loan and a long$-$term financing arrangement, which one of the following types of financial risk must MK consider?

a$.$ price risk

b$.$ Liquidity risk

c$.$ Exchange rate risk

d$.$ interest rate risk