A loan of $15,000 is made at 6.5% interest, compounded annually. After how many years will the amount due reach $35,000 or more? (Use the calculator provided if necessary.)Write the smallest possible whole number answer.

To solve this problem, we need to use the formula for compound interest, which is:

A = P(1 + r/n)^(nt)

Where: A = the amount of money accumulated after n years, including interest. P = the principal amount (the initial amount of money) r = annual interest rate (in decimal) n = number of times that interest is compounded per year t = time the money is invested for in years

In this case, we are trying to find out the time (t), so we need to rearrange the formula to solve for t. However, since the interest is compounded annually, n = 1, so the formula simplifies to:

A = P(1 + r)^t

Rearranging for t gives us:

t = log(A/P) / log(1 + r)

Substituting the given values:

A = $35,000 P =$15,000 r = 6.5% = 0.065

We get:

t = log(35000/15000) / log(1 + 0.065)

Calculating this gives us:

t ≈ 14.4 years

However, the question asks for the smallest possible whole number answer, so we need to round up to the next whole number, because even a small fraction of a year would mean going into another year.

So, the smallest possible whole number answer is 15 years.