Q17. The interest rate that is disclosed by financial institutions is called the stated interest rate, quoted interest rate, or annual percentage rate (APR).

Group of answer choices

a. True

b. False

Q23. The manager of a family restaurant is considering a renovation investment that would expand the operations menu offerings.

The estimated Initial Investment Cost for the project is $36,000 (in Year 0), and the estimated Annual Cash Flow from the project is $11,250 per year for 5 years (in Years 1-5).

What is the payback period for the proposed project?

Group of answer choices

a. 4.3 years

b. 5.3 years

c. 3.2 years

d. 2.0 years