Find the interest rate earned on a deposit

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Reference no: EM132651005

Problem 1: Determine the interest rate earned on a $1,500 deposit when $1,680 is paid back in one year.

Option 1: 12.00 percent
Option 2: 1.12 percent
Option 3: 89.00 percent
Option 4: 0.89 percent

Problem 2: What is the future value of $600 deposited for four years earning an 11 percent interest rate annually?

Option 1: $899.23
Option 2: $910.84
Option 3: $792.90
Option 4: $803.61

Reference no: EM132651005

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