Solve the problem.A college loan of $16,000 is made at 3% interest, compounded annually. After t years, the amount due, A, is given by the function A(t) = 16,000(1.03)t .After what amount of time will the amount reach $31,000?

A. 100.3 yr
B. 0.0 yr
C. 22.4 yr
D. 0.6 yr


Answer: C

Mathematics

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Mathematics