QUESTION 10 A company needs $1,000,000 million for 5 months. A bank agreed to lend the $1 million at a rate of 7.5 percent per annum, using a loan secured by the company's 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? 0 9.50% 12.50% 8.50% O 10.50% O 11.50%