You need to have $15,000 in five years to pay off a home equity loan. You can invest in an account that pays 5.25 percent compounded quarterly. How much will you have to invest today to attain your target in five years? (Round to the nearest dollar.) $13,184 $11,557 $12,250 $11,275 ransent Foods announced that its current sales is $1 million this year. The company forecasts a rowth rate of 15 percent for the foreseeable future. How long will it take the firm to produce earnings of $3 million? (Round off to the nearest year.) 7 years 6 years 8 years 10 years