Chad Is Setting Up a Retirement Fund,and He Plans on Depositing

Multiple Choice

Chad is setting up a retirement fund,and he plans on depositing $5,000 per year in an investment that will pay 7% annual interest.How long will it take him to reach his retirement goal of $69,080?

A) 13.816 years
B) 0.072 years
C) 10 years
D) 20 years
E) 5 years