1. In January 2015, the average price of an asset was $27,558. 9 years earlier, the average price was $21,608. What was the annual increase in selling price?
2.74%
3.01%
3.29%
-2.67%
2.47%
2. You're trying to save to buy a new $220,000 Ferrari. You have $44,000 today that can be invested at your bank. The bank pays 3.0 percent annual interest on its accounts. How long will it be before you have enough to buy the car?
54.20 years
54.95 years
54.70 years
54.45 years
52.45 years