You agree to make 36 deposits of $800 at the beginning of each month into a bank account. At the end of the 36th month, you will have $33,000 in your account. If the bank compounds interest monthly, what nominal annual interest rate will you be earning?

		9.62%
		9.00%
		9.16%
		8.68%
		9.03%

You need a $50,000 loan for your business right away. Given you have bad credit history, none of the banks are willing to give you a loan. Hence, you turn to a loan shark and they call for a daily payment of $75.00. The first payment is due today. The interest rate is 25%, daily compounding. What is the time period of this loan? Assume there are 365 days in a year.

		274.31 years
		0.7510 year
		1.68 years
		3.13 years
		2.44 years