At the end of t years, the future value of an investment of $7000 in an account that pays 7% APR compounded monthly is $S = 7000 \left( 1 + \frac { 0.07 } { 12 } \right) ^ { 12 t }$ dollars. Assuming no withdrawals or additional deposits, how long will it take
For the investment to reach $21,000? Round to three decimal places.
A) 23.610 years
B) 15.740 years
C) 12.592 years
D) 18.888 years

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The Answer of At the end of t years, the future value of an investment of $7000 in an account that pays 7% APR compounded monthly is $S = 7000 \left( 1 + \frac { 0.07 } { 12 } \right) ^ { 12 t }$ dollars. Assuming no withdrawals or additional deposits, how long will it take
For the investment to reach $21,000? Round to three decimal places.
A) 23.610 years
B) 15.740 years
C) 12.592 years
D) 18.888 years

At the End of T Years, the Future Value of an Investment