1. How many years will it take $2 million to grow to $5.60 million with an annual interest rate of 7 percent?
(Do not round intermediate calculations and round your final answer to 2 decimal places.)
2. What annual rate of return is earned on a $5,000 investment when it grows to $11,750 in five years?
(Do not round intermediate calculations and round your final answer to 2 decimal places.)