Fall07:To triple $1 million, Mika invested today at an annual rate of return of 9 percent

Fall07:To triple
$1 million, Mika invested today at an annual rate of return of 9 percent. How
long will it take Mika to achieve his goal?
A. 15.5 years
B. 13.9 years
C. 12.7 years
D. 10 years
Level of difficulty: Medium