For Much of the 20th Century,new Car Prices Rose at an Average

Multiple Choice

For much of the 20th century,new car prices rose at an average annual rate of 5.89%.Given a beginning new car price of $900,how long did it take for the average new car price to rise to $27,865? Please round to the nearest year.

A) 40 years
B) 60 years
C) 70 years
D) 100 years