Solve the Problem $\$ 25,000$ Is Made At $4 \%$ Interest, Compounded Annually

Multiple Choice

Solve the problem.
-A college loan of $\$ 25,000$ is made at $4 \%$ interest, compounded annually. After tyears, the amount due, $\mathrm{A}$ , is given by the function
$$\mathrm{A}(\mathrm{t}) =25,000(1.04) ^{\mathrm{t}}$$
After what amount of time will the amount reach $\$ 37,000$ ? Round your answer to the nearest tenth.

A) $0.1 \mathrm{yr}$
B) $0.4 \mathrm{yr}$
C) $10.0 \mathrm{yr}$
D) $68.7 \mathrm{yr}$