1. If an investment of $35,000 is earning an interest rate of 12.00%, compounded anually, then it will take ___________ for this investment to reach a value of $58,283.97-assuming that no additional deposits or withdrawals are made during this time.

2. Which of the following statements is TRUE-assuming that no additional deposits or withdrawels are made

a. An investment of $50 at an annual rate of 5% will return a higher value in 5 years, than $25 invested at an annual rate of 10% in the same time.

b. An investment of $25 at an annual rate of 10% will return a higher value in 5 years, than $50 invested at an annual rate of 5% in the same time.