6. A housing developer sold 1,254 houses in 2008 but only 435 in 2014. What was the annual rate of sales of houses over this period? 7. A new CEO promises to increase company sales by 7% per year from its current level of $5,435,678 to a target level of $8 million. How long would it take for the new CEO to reach this goal? 8. If your investment doubles in value in 12 % years, what approximate annual rate of return would you have earned? If you could earn an annual rate of 4.50%, approximately how long would it take for your investment to double