Suppose that you are grading a classmate's work on a compound interest problem, shown below. If there is a mistake, select the step where the mistake was made. If there is no mistake, select "No mistake." Problem: How long will it take for an investment of $3500 to double if it is invested at 2.5% annual interest compounded monthly? Round your answer to three decimal places. Step 1: 7000 = 3500 (1+0.25)121 Step 2:2= (1+0.25) 12 Step 3: log(2) = log((1+ 0.25)121) Step 4: log(2) Step 5: t = 12t log(1+ 0125) log(2) (12 log (1+0)) 2.801 years O Step 1 Step 2 O Step 3 Step 4 Step 5 O No mistake