Question: 5 How many years (and months) will it take $2 million to grow to $4.60 million with an annual interest rate of 7 percent? (Do

5 How many years (and months) will it take $2 million to grow to $4.60 million with an annual interest rate of 7 percent? (Do not round intermediate calculations. Round "months" to 1 decimal place.) Period 24.0 Print Explanation $4.60 million (1.07)N 4.60 /2 (the millions cancel) 1n (1.07)) 1n 2.3 -$2 million x (1 + 0.07)N N ln 1.07 in 2.3 - 1n 2.3 1n 1.07 -0.83291 0.06766-12.31 years - 12 years, 3.7 months

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