What is the annual mortgage constant for a loan with a 9% mortgage constant?

The annual mortgage constant is a factor that expresses the relationship between the total annual debt service of a loan and the amount of the loan. Essentially, it reflects the annual payment required for every dollar of loan amount. In this case, the question states that the loan has a mortgage constant of 9%.

When presented with this information, the logical interpretation is that the correct answer to the question regarding the annual mortgage constant would be directly aligned with the stated 9%. The mortgage constant gives a clear indication of the percentage of the loan amount that must be paid annually, encompassing both principal and interest.

The other options suggest values that are either lower than or higher than the given constant, which does not accurately represent the information provided. Hence, choosing 9% as the answer aligns perfectly with the given data, making it the appropriate choice.