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Author Question: Casey has 1,000 to invest and would like to buy a 3,000 jet-ski in four years. If interest is ... (Read 49 times)

mckennatimberlake

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  • Posts: 559
on: Jul 10, 2018
Casey has 1,000 to invest and would like to buy a 3,000 jet-ski in four years. If interest is compounded annually, what interest rate will she have to receive to reach her goal?
 
  A) 300
  B) 16
  C) 32
  D) 3
  E) 7

Question 2

Blastdale Corp. is considering borrowing 15,000 for a 60-day period. The firm will repay the
  15,000 principal amount plus 200 in interest. What is the effective annual rate of interest? Use a
  360-day year.
 
  A) 8.2 B) 8.0 C) 10.5 D) 7.2


tashiedavis420

  • Sr. Member
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  • Posts: 329
Reply #1 on: Jul 10, 2018
Answer to Question 1

C

Answer to Question 2

B


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