1.

How many years will it take $2 million to grow to $4.20 million with an annual interest rate of 9 percent?(Do not round intermediate calculations and round your final answer to 2 decimal places.)

Period

________ years

2.

How long will it take $2,000 to reach $4,200 when it grows at 12 percent per year? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Period

__________ years