Question: 1. Sackville Plastics started in 2002 by an immigrant engineer. He quickly exhausted his savings and bank credit, so turned to a lender of last

1. Sackville Plastics started in 2002 by an immigrant engineer. He quickly exhausted his savings and bank credit, so turned to a lender of last resort who was prepared to loan him $30,000 at 39% APR compounded weekly. SP paid off the loan as a single payment after 2 years. How much did SP repay?

2. SP had sales of $168,000 in 2006. In 2014, it had sales of $2,300,000. What is the compounded annual growth rate?

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