$($Compound value$)$ Stanford Simmons, who recently sold his Porsche, placed $$9,800$ in a savings account paying annual

compound interest of $6$ percent.

a$.$ Calculate the amount of money that will have accrued if he leaves the money in the bank for $2,5,$ and $15$ years.

b$.$ If he moves his money into an account that pays $8$ percent or one that pays $10$ percent, rework part a using these

new interest rates.

c$.$ What conclusions can you draw about the relationship between interest rates, time, and future sums from the

calculations you have completed in this problem?

If the money was moved to an account that pays $10$ percent, what is the accrued value of $$9,800$ in the account for $15$

years?

$($Round to the nearest cent.$)$

c$.$ What conclusions can you draw about the relationship between interest rates, time, and future sums from the

calculations you have completed in this problem?

There is a

relationship between both the interest rate used to compound a present sum and the number of

years for which the compounding continues and the future value of that sum. $($Select from the drop$-$down menu.$)$