1- You want to buy a house in 8 years and expect to need $20000 for a down payment. If you have $16000 to invest, how much interest do you have to earn (compounded annually) to reach your goal? (Enter your answers as a decimal rounded to 4 decimal places, not a percentage. For example, enter 0.0843 instead of 8.43%)

2- David has a savings account with a 2,000 balance today. The account earns an annual percentage rate of interest of 1.00%, compounded monthly. David plans to make no other deposits or withdrawals. How many years will it take David's account balance to double?