8. Lisa just deposited $5,000 into an account at Bank of America, where she will earn 4.8% (APR) compounded annually on this money. If she wants to have a balance of $8,000, how many years will she have to wait? What would be your answer if the 4.8% (APR) is compounded monthly?

9. Mona Lisa by Leonardo da Vinci was priced $50,000 in 1940 and $400,000 in 1965, respectively. If you were the owner of it, what is the rate of return (APR) on your investment if we assume annual compounding? What about semi-annual compounding?