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

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Finance

You are hoping to buy a house in the future and recentlyreceived an inheritance of $24,000. You intend to use yourinheritance as a down payment on your house.
a. If you put your inheritance in an account that earns 8percent interest compounded? annually, how many years will it bebefore your inheritance grows to $34,000??
b. If you let your money grow for 10 years at 8 percent?, howmuch will you? have?
c. 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 ?$34,000 if you move itinto an account that pays 12 percent??
d. What does all this tell you about the relationship amonginterest? rates, time, and future? sums?

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You are hoping to buy a house in the future and recentlyreceived an inheritance of $24,000. You intend to use yourinheritance as a down payment on your house.a. If you put your inheritance in an account that earns 8percent interest compounded? annually, how many years will it bebefore your inheritance grows to $34,000??b. If you let your money grow for 10 years at 8 percent?, howmuch will you? have?c. 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 ?$34,000 if you move itinto an account that pays 12 percent??d. What does all this tell you about the relationship amonginterest? rates, time, and future? sums?