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