Tim needs to borrow $$5,000$ for two years. The loan will be repaid in one lump sum at the end of the loan term. Which one of the following interest rates is best for Tim?

Muliple Choice

$8\mathrm{.}0$ percent simple interest

$8\mathrm{.}0$ percent interest, compounded monthly

$8\mathrm{.}0$ percent interest, compounded annually

$7\mathrm{.}5$ percent simple interest