Question $8$

Your mother just received a $$79,600$ inheritance. If she invests her money in a diversified equity portfolio returning $7\%$ per year, approximately how long will it take for her to accumulate $1\mathrm{.}5$ million $($Round to

decimals$)$

$10\mathrm{.}70$ years

$60\mathrm{.}54$ years

$43\mathrm{.}40$ years

$37\mathrm{.}99$

None of these.