3. You are hoping to buy a house in the future and recently received an inheritance...

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3. You are hoping to buy a house in the future and recentlyreceived an inheritance of ?$16,000. You intend to use yourinheritance as a down payment on your house.
If you put your inheritance in an account that earns 7 percentinterest compounded? annually, how many years will it be beforeyour inheritance grows to ?$34,000??
If you let your money grow for 10.25 years at 7 percent?, howmuch will you? have?
How long will it take your money to grow to ?$34,000 if youmove it into an account that pays 5 percent compounded? annually?How long will it take your money to grow to ?$34 comma 000 if youmove it into an account that pays 13 percent??
What does all this tell you about the relationship amonginterest? rates, time, and future? sums?

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3. You are hoping to buy a house in the future and recentlyreceived an inheritance of ?$16,000. You intend to use yourinheritance as a down payment on your house.If you put your inheritance in an account that earns 7 percentinterest compounded? annually, how many years will it be beforeyour inheritance grows to ?$34,000??If you let your money grow for 10.25 years at 7 percent?, howmuch will you? have?How long will it take your money to grow to ?$34,000 if youmove it into an account that pays 5 percent compounded? annually?How long will it take your money to grow to ?$34 comma 000 if youmove it into an account that pays 13 percent??What does all this tell you about the relationship amonginterest? rates, time, and future? sums?