Question number 48

Monica Ross has $18,900 to invest today at 9% to pay a debt of $41,049. How many years will it take her to accumulate enough to liquidate the debt? (Round the years to 0 decimal places). Monica's sister Lisa has a $28,700 debt that she wishes to repay 6 years from today; she has $17,113 that she intends to invest for the 6 years. What rate of interest will she need to earn annually in order to accumulate enough to pay the debt? (Round the rate of interest to 0 decimal places,)