Question: 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

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.

For example, if a companys sales are growing at a rate of 5.40% per year, approximately how long will it take sales to double? Show your answer to 2 decimals (x.xx years). If you are not sure how to work this, go back to this weeks practice problems. Do not approximate using the rule of 72.

If you want an investment to triple in fifteen years, what interest rate must it earn? Show your answer to 2 decimals (x.xx%).

* please include values for financial calculator

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