How many years will it take 2 million to grow to 560, Financial Management

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How many years will it take 2 million to grow to 560

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.)

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Financial Management: How many years will it take 2 million to grow to 560

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