I need a help please. Multiple choice. Thanks?

15. Henry Devine bought a new dishwasher for $320. He paid $20 down and made 10 monthly payments of $34. What actual yearly interest rate did Henry pay?





A. 14.55


B. 29.09


C. 34.38


D. 68.75








16. The letter of application is intended to





A. find out what the prospective employer has to offer.


B.remind the prospective employer of your recent interview.


C. outline your value to a prospective employer.


D. accompany your portfolio.

I need a help please. Multiple choice. Thanks?
I have no idea where your questions came from, but the answer to the first question is not contained within the set of possible answers provided.





After Henry pays his $20, he is left with a balance due of $300. If he makes 10 payments of $34, that equals $340, the difference being $40 in interest.





If it is simple interest, then Henry paid 16% ((340-300)/(300*10)*12). If the interest is compound then Henry paid 28.12% (using Newtonian approximation).





For question two, I have never heard the phrase, "letter of application." If you mean "cover letter," then the purpose of such a letter is to introduce oneself to a prospective employer and direct his/her attention to the accompanying resume. Therefore, "D" appears to be the correct answer.
Reply:oh damn I wasn't expecting a math problem, but since I am here ... lets say.... D %26amp; C ... did I pass?