34. Markovich Corporation is considering building a new plant. It will cost $1 m

Question

34. Markovich Corporation is considering building a new plant. It will cost $1 million today to build it and it will generate revenues of $1.121 million three years from today. Of the interest rates below, which is the highest interest rate at which Markovich still would be willing to build the plant?

a. 3 percent b. 4.5 percent c. 3.5 percent d. 4 percent

35. At an annual interest rate of 14 percent, about how many years will it take $100 to double in value?

a. 4 b. 3 c. 5 d. 7

36. You put $75 in the bank one year ago and forgot about it. The bank sends you a notice that you now have $81 in your account. What interest rate did you earn?

a. 6 percent b. 7 percent c. 5 percent d. 8 percent

Explanation / Answer

34. d. 4 percent 35. c. 5 36. c. 5 percent

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