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You expect to receive $14,000 from your godmother at graduation in two years. You plan to invest the gift in the Transylvanian Bank & Loan

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You expect to receive $14,000 from your godmother at graduation in two years. You plan to invest the gift in the Transylvanian Bank & Loan which pays 6 percent annually on deposits. You'll leave your money in the bank until you have $98,000. How long will you have to wait from now before you reach that target amount? (Do not round your intermediate calculations.) Multiple Choice 38.93 years 35.40 years O 31.40 years O 39.64 years 33.40 years

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