Question: 2 . We sometimes need to find how long it will take a sum of money ( or anything else ) to grow to some

2. We sometimes need to find how long it will take a sum of money (or anything else) to grow to some specified amount. Note that you should enter PV as a negative and FV as a positive.
(a) For example, if a companys sales are growing at a rate of 6.24% per year, how long will it take sales to double? Show your answer to 2 decimals (x.xx years). Do not approximate using the rule of 72.
(b) If you want an investment to triple in thirteen years, what interest rate must it earn? Show your answer to 2 decimals (x.xx%).

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