1.A small company borrowed $100,000.00 for business expansion. The entire principle of $100,000 will be repaid in 2 years, but quarterly interest of $3300 must be paid every three months. What nominal annual interest rate is the company paying?

A.3.3%

B.13.2%

C.39.6%

D.26.4%

2.The fixed costs incurred by a manufacturing plant are $200,000 per year. Variable costs are 60% of annual sales. If annual sales are $300,000, the annual profit/loss is:

A.$66,000 profit

B.$66,000 loss

C.$80,000 profit

D.	$80,000 loss