3 Bob bought some land costing $15,640. Today, that same land is valued at $45,317. How long has Bob owned this land if the price of land has been increasing at 4 percent per year? Multiple Choice int ences 29 30 years 1114 years O 2712 years 28.17 years O 1159 years You expect to receive a payout from a trust fund in 5 years. The payout will be for $11,400. You plan to invest the money at an annual rate of 6.2 percent until the account is worth $19,600. How many years do you have to wait from today? Multiple Choice 14.01 years 9.01 years 12.45 years 12 61 years 10.51 years