Question $9$

You expect to receive $$50,000$ from your parents when you graduate this Spring. You plan to invest it in a stock index mutural fund until you have $$70,000.$ At which time you will use the $$70,000$ to make a $20\%$ downpayment on a $$350,000$ house. You expect the investment to earn $10\%$ per year. How long will it take your investment to grow to $$70,000?$

A$.$

$2\mathrm{.}72$ years

B$.$

$4\mathrm{.}11$ years

C$.$

$6\mathrm{.}27$ years

D$.$

$5\mathrm{.}40$ years

E$.$

$3\mathrm{.}53$ years