A managed fund run by ricks running shoes Ltd is offering a rate of return of 8% per annum, compounded quarterly, after fees. If Janice deposits $10,000 in this fund, how many years will it take for her investment to grow to $25,000?

Select one:

a. 46.3 years

b. 45.3 years

c. 23.2 years

d. 11.6 years