The compound interest on $ 30,000 at 7% per annum is $4347. The period (in years) is: Choose the most appropriate option:	A) 2	B) 2 1/2	C) 3	D) 4	E) 5
Amount = $(30000 + 4347) = $. 34347.   Let the time be n years.   Then, 30000 1 +	7 n	= 34347   100   107 n	=	34347	=	11449	= 107 2   100 30000 10000 100   n = 2 years.   2NSWER 2 - 2
<result>A</result>
The compound interest on $ 30,000 at 7% per annum is $4347. The period (in years) is: