Momin plans to buy a house on cash instead of paying mortgage. He targets spending $400,000 on his dream house. He plans to set aside $1,200 every month to reach his target. He puts his savings in a Tax Free Savings Account (TFSA) and invests them in a high risk mutual fund, which has traditionally earned 12.2% annually. How long will it take Momin to reach his target? Round to the nearest year and month. A. 13 years 9 months B. 15 years 3 months C. 24 years 9 months D. 27 years 10 months E. 12 years 6 months

Mornin plans to buy a houte on cash instead of paying mortgoge. Ho targets spending \\( \\$ 400,000 \\) on his drearn house. He plans to sot aside \\( \\$ 1,200 \\) wevey morith te How long wil it take Momin to reach his target? Round to the nearest year and month. A. 13 yoars 9 monthis B. 15 years 3 months C. 24 yoars 9 months D. 27 years 10 months E. 12 years 6 months