Lawson Company Invests $60,000 Today and Has $148,560 by the End

Multiple Choice

Lawson Company invests $60,000 today and has $148,560 by the end of eight years.What is the firm's compound annual interest rate? Use appendix Table 1, Table 2, Table 3 and Table 4.

A) 10.00%.
B) 12.00%.
C) 18.45%.
D) 40.39%.
E) None of the answers is correct.