A 90-day CD offers an annualized interest rate of 3.20% and requires a minimum deposit of $15,000. The amount of interest that will be earned on this investment is a. $215.00. b. $148.50. c. $245.00. d. $118.40.

Consider a project with the following cash flows in $:

Year	Cash Flow
0	-10,000
1	4000
2	4000
3	4000
4	4000

Assume the appropriate discount rate for this project is 15%. The IRR for this project is closest to:

a.

25%

b.

15%

c.

30%

d.

22%