A $2 Million Deposit Earns 7 Percent for 13 Years

Multiple Choice

A $2 million deposit earns 7 percent for 13 years. If the account earns 9 percent per year forever after that, how long will it take to grow to $5 million?

A) zero; the account exceeds $5 million after 13 years
B) 0.26 year
C) 0.43 year
D) 1.18 years