Sarah currently has $62,410 in her retirement account, and her goal is to have at least $100,000 in the account. If the account pays 6.9% interest once per year, what is the fewest years it would take Sarah to reach her goal?
ANSWER OPTIONS: 6,7,8,9
It would take Sarah just over 7 years to reach $100,000.
8 years
62410(1+0.069)^8
106433
