# How many years will it take $2 million to grow

## Question: 1.How many years will it take $2 million to grow t…

1.How many years will it take $2 million to grow to $6.20 million with an annual interest rate of 7 percent? (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Period ________years

2.Compute the future value in year 7 of a $3,100 deposit in year 1 and another $2,600 deposit at the end of year 4 using a 8 percent interest rate. (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Future Value __________$