Teddy just received $20,000 for his 30th birthday. He plans to make a $9,000 annual contribution to his "early retirement fund" on his birthday, beginning a year from today. Teddy invested in the new Issue Bio-Tech Fund, which invests in small, newly issued bio-tech stocks and whose investors have earned an average of 15.8% per year in a the fund's relatively short history. If the fund earns the same return in the future as in the past, how old will Teddy be when he reaches $100 million?

Please choose one from below and please explain:

* 74 yrs old

* 79 yrs old

*44 yrs old

* 58 years old