1. Three years ago, Caroline invested $7,500. She has earned and will earn compound interest of 3.2 percent per year. In one year from today, Mardy can make an investment and earn simple interest of 13.2 percent per year. If Mardy wants to have as much in 5 years from today as Caroline will have in 5 years from today, then how much should Mardy invest in one year from today?

A. An amount equal to or greater than $6,400 but less than $7,100

B. An amount equal to or greater than $7,100 but less than $7,900

C. An amount equal to or greater than $7,900 but less than $8,600

D. An amount equal to or greater than $8,600 but less than $9,300

E. An amount less than $6,400 or an amount equal to or greater than $9,300

2.

. Two years ago, Rafer invested $1,600. He has earned and will earn compound interest of 8.50 percent per year. If Lainie invests $1,700 in 1 year from today and earns simple interest, then how much simple interest per year must Lainie earn to have the same amount of money in 6 years from today as Rafer will have in 6 years from today? Answer as an annual rate.

A. A rate less than 7.00 percent or an amount equal to or greater than 17.00 percent

B. A rate equal to or greater than 7.00 percent but less than 9.50 percent

C. A rate equal to or greater than 9.50 percent but less than 12.00 percent

D. A rate equal to or greater than 12.00 percent but less than 14.50 percent

E. A rate equal to or greater than 14.50 percent but less than 17.00 percent