1. Cooling Tools, Inc. is currently producing 987 of small refrigerators per month but the company’s CEO plans to increase production at a rate of 10.39 percent per month until the firm is producing 5,816 of refrigerators per month. How many months will this take?
2. At what annual rate would the following have to be invested? $9,063, to grow to $28,055, in 37 years.
3. Upon graduating from college, you make an annual salary of $38,222. You set a goal to double it in the future. If your salary increases at an average annual rate of 6.75 percent, how long will it take to reach your goal?