Three years ago, Steve invested $18,700. Today he has $19,800. If Steve earns the same annual rate implied from the past and current values of his investment, then in how many years from today does he expect to have exactly $25,600.00

1. 23.77 years (plus or minus 0.05 years)
2. 13.48 years (plus or minus 0.05 years)
3. 51.99 years (plus or minus 0.05 years)
4. 16.48 years (plus or minus 0.05 years)
5. None