Four years ago you deposited $1,000 in an account earning 7% per year and you have not touched the account since then. Youve just received an estimate for some home repairs in the amount of $1,500. Do you have enough in your account to pay for the repairs? If not, and considering each item separately, how much would you have needed to deposit four years ago, at what rate, and for how long in order to have enough for the repairs?