Present and future value tables of $1 at 3% are presented below: N FV $1 PV $1 FVA $1 PVA $1 FVAD $1 PVAD $1 1 1.03000 0.97087 1.0000 0.97087 1.0300 1.00000 | 2 1.06090 10.94260 | 2.0300 1.91347 2.0909 1.97087 3 1.09273 0.91514 3.0909 2.82861 3.1836 2.91347 | 4 1.12551 10.88849 4.1836 | 3.71710 | 4.3091 | 3.82861 5 1.15927 0.86261 5.3091 4.57971 5.4684 4.71710 6 1.19405 0.83748 6.4684 5.41719 6.6625 5.57971 | 7 1.22987 10.81309 | 7.6625 6.23028 7.8923 6.41719 8 1.26677 0.78941 8.8923 7.01969 9.1591 7.23028 9 1.30477 0.76642 | 10.1591 7.78611 | 10.4639 8.01969 10 1.34392 0.74409 | 11.4639 8.53020 | 11.8078 8.78611 11 1.38423 0.72242 | 12.8078 9.25262 | 13.1920 9.53020 12 1.42576 0.70138 14.1920 9.95400 14.6178 10.25262 | 13 1.46853 0.68095 | 15.6178 10.63496 16.0863 10.95400 | 14 1.51259 10.66112 | 17.0863 11.29607 | 17.5989 (11.63496 15 1.55797 0.64186 18.5989 11.93794 | 19.1569 12.29607 16 1.60471 0.62317 20.1569 12.56110 | 20.7616 12.93794 You want to invest $22,000 today to accumulate $24,760 to buy a car. If you can invest at an interest rate of 3% compounded annually, how many years will it take to accumulate the required amount? Multiple Choice o 5 years. o 3 years. 3 years. 4 years. 4 years. O 6 years. 6 years