Elisa needs money to repair her home air conditioner, so she pawns her bicycle. The pawnbroker loans Elisa $270. Eleven days later, Elisa gets her bicycle back by paying the pawnbroker $279.90. What annual simple interest rate did the pawnbroker charge Elisa? Assume 360 days in a year. The pawnbroker charged Elisa a simple interest rate of

Quick computing currently sells 12 million computer chips each year at a price of $19 per chip. it is about to introduce a new chip, and it forecasts annual sales of 22 million of these improved chips at a price of $24 each. however, demand for the old chip will decrease, and sales of the old chip are expected to fall to 6 million per year. the old chips cost $10 each to manufacture, and the new ones will cost $14 each. what is the proper cash flow to use to evaluate the present value of the introduction of the new chip? (enter your answer in millions.)