14. A Senior High School student plans to invest in a bank since he knew that his family
struggles financially. He thought that if he will not prepare for the future it will be hard
for him to continue to study at the university. This decision is very wise for a student
like him. It suggests that even as early as Grade 7 students should have the urge and
initiative to save for the future. His initial amount for his savings is P5,500.00. Help him
to decide to save his money. If he would like to have P20,000 in the future how long will
it take him to save with the same amount of initial investment and the same interest
rate?
A. 8 years
B. 12 years
C. 10 years
D. 13 years​