What is the effective cost of this loan if you holding the loan for only $1$ year?

Group of answer choices

$11\mathrm{.}72\%$

$11\mathrm{.}97\%$

$8\mathrm{.}5\%$

$6\mathrm{.}73\%$

What is APR $($annual percentage rate$)$ for this PLAM loan?

Group of answer choices

$5\mathrm{.}098\%$

$5\mathrm{.}198\%$

$5\mathrm{.}298\%$

$5\mathrm{.}398\%$