20000 is deposited into an account that pays 375 interest ho

$20,000 is deposited into an account that pays 3.75% interest, how long will it take to double your money? please show work

If it is simple interest :

A = p(1 + rt)
2p = p(1 + 0.0375*t)
2p/p = 1 + 0.0375t
2 = 1 + 0.0375t
1 = 0.0375t
t = 1/0.0375
t = 26.67 years

If it is compound interest compounded annually :

A = p(1 + r)^t
2p = p(1 + 0.0375)^t
2p/p = 1.0375^t
2 = 1.0375^t
ln2 = t * ln(1.0375)
t = ln(2) / ln(1.0375)
t = 18.83 years

Please check both possibilities and choose the one that applies