You Expect to Receive $5,000 at Graduation One Year from Now.Your

Multiple Choice

You expect to receive $5,000 at graduation one year from now.Your plan is to invest this money at 6.5 percent, compounded annually, until you have $50,000.At that time, you plan to travel around the world.How long from now will it be until you can begin your travels?

A) 36.57 years
B) 31.08 years
C) 34.55 years
D) 32.08 years
E) 37.57 years