Faisal has $15,000 in his savings account and can save an additional $5000 per year. If interest rates are 12%, how long will it take his savings to grow to $50,000?

2 years

3 years

4 years

5 years

What is the internal rate of return (IRR) of an investment that requires an initial investment of $10,000 today and pays $14,000 in one year's time?

4%

14%

24%

40%