a. How long will it take a $20,000 investment to grow to $25,000 if it earns 7% compounded quarterly (assume that a quarter year has 91 days)? b. For loans of one month, a payday loan business charges 1.55% of the amount borrowed as interest, plus a "processing fee" of 52.05 per $1000 borrowed. Is the business breaking the law by exceeding the legislated cap of an effective interest rate of 23.5% if processing fees are considered interest under the law