1). A Motel is converting its rooms into privately owned condominiums. The interest on a$3,800,000, 30-year construction loan is $90,000. What is the rate of interest? Does the rate seem unreasonable?

A)4.30%; reasonable

B)0.08%; unreasonable

C)1.60%;unreasonable

D)5.80%; reasonable

2). Amy had an unpaid balance of $1622.11 on her credit card statement at the beginning of June.She made a payment of $395.00 during the month, and made purchases of $50.68.If the interest rate on Amy's credit card was 4% per month on the unpaid balance, find her finance charge and the new balance on July 1.