1. You can earn .51 percent per month at your bank. If you deposit $3,400, how long must you wait until your account has grown to $6,400? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Number of months
2. A company plans to use the simple payback method to assess a new project for viability. The project will cost £600,000 with an expected life of ten years. It anticipates that the scrap value will be £50,000 and it will attract an annual benefit of £80,000 with a recurring annual running cost of £5,000. What is the payback period?