$1-$

A local bank is running the following advertisement in the newspaper: "For just $$5,000$ we will pay you $$250$ foreverl" The fine print in the ad says that for a $$5,000$ deposit, the bank will pay $$250$ every year in perpetuity, starting one year after the deposit is made. What interes! rate is the bank advertising $($what is the rate of return of this investment$)?$

The interest rate the bank is advertising is

$\%.($Round to the nearest integer.$)$

$2-$

You receive a $$7,000$ check from your grandparents for graduation. You decide to save it toward a down payment on a house. You invest it earning $11\%$ per year and you think you will need to have $$14,000$ saved for the down payment. How long will it be before the $$7,000$ has grown to $$14,000?$

To double the money you received from your grandparents, it will take $$ years. $($Round to one decimal place.$)$