A principal sum of money P is invested at the end of each year in an annuity earning annual interest at a rate of r . The amount in the annuity account will be A dollars after n years, where $n = \frac { \log \left( \frac { A v } { P } + 1 \right) } { \log ( 1 + r ) }$ If $2,000 is invested each year in an annuity earning 9% annual interest, how long will it take for the account to be worth $15,000? Round the answer to the nearest tenth of the year.
A)7.5 years
B)6.0 years
C)4.2 years
D)6.7 years
E)5.1 years

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The Answer of A principal sum of money P is invested at the end of each year in an annuity earning annual interest at a rate of r . The amount in the annuity account will be A dollars after n years, where $n = \frac { \log \left( \frac { A v } { P } + 1 \right) } { \log ( 1 + r ) }$ If $2,000 is invested each year in an annuity earning 9% annual interest, how long will it take for the account to be worth $15,000? Round the answer to the nearest tenth of the year.
A)7.5 years
B)6.0 years
C)4.2 years
D)6.7 years
E)5.1 years

A Principal Sum of Money P Is Invested at the End