Animist Designers Has Generated Sales of $625,000 for the Current

Multiple Choice

Animist Designers has generated sales of $625,000 for the current year. If it can increase its sales at a rate of 12 percent every year, how long will it take for its sales to triple? (Round off to the nearest year.)

A) 8 years
B) 7 years
C) 10 years
D) 9 years