Tobin is solving the equation 3(x - 1.25) = 11.25. His work is shown below.

What mistake did Tobin make?

a
Tobin did not make a mistake.
b
Tobin should have subtracted 3.75 from each side.
c
Tobin did not distribute the 3 correctly.
d
Tobine should have divided by 3.

Frank is lending $1,000 to sarah for two years. frank and sarah agree that frank should earn a real return of 4 percent per year. instructions: a. the cpi (times 100) is 100 at the time that frank makes the loan. it is expected to be 113 in one year and 127.7 in two years. what nominal rate of interest should frank charge sarah?