13. The company you work for has downsized and you have lost your job. You receive a severance package of $65 000 and decide to invest it for retirement, earning an average of 7% per year. It has been suggested that you should be able to retire comfortably with $500 000 in savings. If your investment can be modelled with the equation y = 65 000(1.07) how many years will pass before you reach $500 000? [3 marks] 16. Two investors, Brent and Lincoln, invest different amounts of money at the same time for an 8-year period. Brent invests $10 000 at 6% per year and the final amount is given by the formula A= 10 000(1.06). Lincoln is shrewder, and was able to invest only $8 000 and end up with the same amount at the end. The final amount can be modelled using the equation A = 8 000(1+i). Determine the value of i for Lincoln and the yearly interest rate the money earned to allow this to happen. [4 marks]