Christina first started saving money

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1. Christina has been saving $7,500 a year ever since she started to work. She has earned an average return of 9.46 percent and now has a total of $202,629 in her savings account. How many years has it been since Christina first started saving money?

15.99 years

11.00 years

14.03 years

13.18 years

2. Wissler, Inc. owes $228,000 to the bank for some improvements made to its office building. The loan is for 60 months and the monthly payment is $4,595.79 What is the interest rate on the loan?

8.50 percent

7.50 percent

8.25 percent

7.75 percent

Reference no: EM131983871

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