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I'd like to give my son $20,000 upon completion of his college education. If I invest $4,500 in an account earning 8% annual interest, approximately
I'd like to give my son $20,000 upon completion of his college education. If I invest $4,500 in an account earning 8% annual interest, approximately how many years will it take for me to achieve my goal if I add nothing more to the account except reinvesting the interest?
A.12.98 years
B.14.98 years
C.19.38 years
D.13.56 years
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