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The State Employees' Credit Union offers a 1-year certificate of deposit with an APR (or effective rate) of 5. If interest is compounded quarterly,...

1. The State Employees' Credit Union offers a 1-year certificate of deposit with an APR (or effective rate) of 5.5%. If interest is compounded quarterly, find the actual interest rate. Round to the nearest tenth of a percent.
A)5.4%    B) 5.1%   C) 5.6%    D) 6.4%    E) not given
2.  You have money in an account at 7% interest, compounded monthly. To the nearest year, how long will it take for your money to triple?not given
A) 22 years B) 9 years C) 13 years D) 16 years E) not given

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