Given a principal of $12,000 with a compound amount of $17,631.94 and interest rate of 8% compounded anually,what is the time peroid in years?

Given a principal of $12,000 with a compound amount of $17,631.94 and

1.	Given a principal of $12,000 with a compound amount of $17,631.94 and interest rate of 8% compounded anually,what is the time peroid in years?
A.	3years
B.	4years
C.	5years
D.	6years
Answer» D. 6years