1. Rob purchased a rare car for $246,800 ten years ago. Today, that car has a market value of $815,000. What is the rate of appreciation on this car?
a. 11.47 percent
b. 12.69 percent
c. 14.19 percent
d. 8.91 percent
2. Charlie invested $7,200 in a stock last year. Currently, this investment is worth $8,788.38. What is the rate of return on this investment?
a. 22.19 percent
b. 20.24 percent
c. 21.56 percent
d. 22.06 percent