Answer:
1/18 I believe or it should be 1/3. May be wrong, sorry
Part 1
Total paid
=cost of the bond+commission
Total paid
32×96.7+32×10=3,414.4
Part 2
Annual interest
32×96.7
=3,094.4
3,094.4×0.08625
=266.892...Annual interest
Part 3
The effective interest rate
((1+0.08625÷12)^(12)−1)×100
=8.974%
For this case we must solve the following quadratic equation:

Where:

The solution is given by:

Substituting:

Thus, we have two roots:

ANswer:

When handling problems of this nature make sure you setup the equations.
x = number of times they rent a boat.
Members
Cost = 105 + 9.50x
Non members because members don't have to pay the 105 we leave it out.
Cost = 14.75x
so now to determin when cost would be equal we set the two equations = to each other
105 + 9.50x = 14.75x
now solve for x
105 = 5.25x
20 = x
so they would have to rent 20 times to equal each other.
F=-50 as multiplying it by -6.2 would give you a positive 310