You're trying to save to buy a new $$220,000$ Ferrari. You have $$47,000$ today that can be invested at your bank. The bank pays $5\mathrm{.}0$ percent annual interest on its accounts. How long will it be before you have enough to buy the car?

Multiple Choice

$31\mathrm{.}64$ years

$29\mathrm{.}64$ years

$31\mathrm{.}89$ years

$32\mathrm{.}14$ years

$31\mathrm{.}39$ years