If the future value of $1,000 invested for 2 years is $1,166.40, what is the underlying discount rate?

11.4%

9.0%

10.4%

8.0%

8.0%

What is the future value of an ordinary annuity of $25 per year for 3 years if the appropriate interest rate is 2 percent, compounded annually?

$57.98

$51.93

$76.51

$65.05

$78.74