1. Your older sister deposited $5,500 today at 8.2% annual interest. How much will she have in four years?
a. $7,399.05
b. $7,201.80
c. $7,489.84
d. $7,414.92
e. $7,538.27
2. Ajax Motors has sales of $482,800, cost of goods sold of $297,400, inventory of $169,600, and accounts receivable of $52,900. How many days, on average, does it take the firm to sell its inventory?
a. 65.27 days
b. 85.20 days
c. 208.15 days
d. 128.22 days
e. 284.67 days