EDIT: oop! I forgot the double == in my if.... doh!
<?php
$options = array("annual", "monthly", "weekly", "daily");
$htmloutput = "";
$htmloutput .= "<select name=\"term\" value=\"" . $term . "\">\n";
foreach($options as $option)
{
$htmloutput .= "\t<option ";
if($term == $option)
{
$htmloutput .= "selected ";
}
$htmloutput .= "value=\"" . $term . "\">" . $option . "</option>\n";
}
$htmloutput .= "</select>\n";
print $htmloutput;
?>
will give you the exact same code.
anyway, I don't think what you had should worry you about loading time...
that's nothin'