E6.10B (L0 2) (Unknown Periods and Unknown Interest Rate) Consider the following independent situations:

(a) Jafri wishes to accumulate $2 million. His money market fund has a balance of $184,592 and has a guaranteed interest rate of 10%. How many years must Jafri leave that balance in the fund in order to get his desired $2,000,000?

(b) Assume that Jones desires to accumulate $2 million in 15 years using her money market fund of $365,392. At what interest rate must Joness investment compound annually?