Briana invested $12,500 into a fund that is expected to grow by 5.25% per year. how long with it take the fund to be worth $25,000? round to the nearest year. a) 2 years b) 12 years c) 14 years d) 10 years

14 years

Step-by-step explanation:

Principal = $12,500

Rate = 5.35%

Amount = $25,000

Now we are supposed to find the time

Formula :

Where A = amount = $25,000

P = principal = $12,500

r = rate of interest in decimal = 0.0525

n = no. of compounds per year = 1

Substitute the values :

Taking log both sides

So, t = 13.5464 years ≈ 14 years

Thus it will take 14 years for the fund to be worth $25,000.

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step-by-step explanation: