A. You currently have $7,200 in your investment account. You can earn an average rate of return of 11.7 percent per year. How long will you have to wait until your account is worth $50,000?

B. A firm has sales of $46,700 and inventory of $5,600. Cost of goods sold is 62 percent of sales and depreciation is 8 percent of sales. What is this firm’s inventory turnover ratio? (Inventory turnover=Cost of Goods Sold/Inventory)