Problem 5-8 Calculating Interest Rates (LO3] Assume that in January 2017, the average house price in a particular area was $308,700. In January 2002, the average price was $205,300. What was the annual increase in selling price? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g.. 32.16.) Annual increase in selling price You're trying to save to buy a new $208,000 Ferrari. You have $58,000 today that can be invested at your bank. The bank pays 6.6 percent annual interest on its accounts. How long will it be before you have enough to buy the car? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Number of years