1. Jamie lends a friend $15,000, for which her friend will repay her $32,000 at the end of 10 years. What interest rate is Jamie charging her friend? (Round to two decimal places.) (3 points)

2. What is the present value of an annuity of $115 received at the end of each year for 12 years? Assume a discount rate of 8%. The first payment will be received one year from today (round to the nearest $1). (3 points)

1. Jamie lends a friend $15,000, for which her friend will repay her $32,000 at the end of 10 years. What interest rate is Jamie charging her friend? (Round to two decimal places.) (3 points) 2. What is the present value of an annuity of $115 received at the end of each year for 12 years? Assume a discount rate of 8%. The first payment will be received one year from today (round to the nearest $1 ). (3 points)