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You expect to receive a payout from a trust fund in 4 years. The payout will be for $ 1 2 , 0 0 0

You expect to receive a payout from a trust fund in 4 years. The payout will be for $12,000. You plan to invest the money at an annual rate of 6.2 percent until the account is worth $20,500. How many years do you have to wait from today?
Multiple Choice
11.47 years
12.90 years
8.90 years
9.68 years
11.61 years
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