Related to The Business of Life Saving for Your First House) (Future value) You are hoping to buy a house in the future and recently receive an ertance of 57000 You mond to use your heritance as a down payment on your house if you put your inheritance in an account that eama percent interest compounded annually, how many years wat toe betore your inheritance grown to 19.0001 if you let your money grow for 10 25 years at 9 percent, how much will you have? How tong will it take your money to grow to $31.000 if you move it into an account that pays 4 percent compounded Us How long will take your money to grow to $31.000 you move to count that pays 12 percent? What does all this tell you about the relationship among interest rates, time, and future suma? if you put your inheritance in an account that earns 9 percent interest compounded annually, how many years will it be before your inheritance grows to $31.0001 years (Round to one decimai place) 3 2. Related to Checkpoint 5.3) (Compound Interest with non annual periods) Calculate the amount of money that will be in each of the following accounts at the end of the given deposit period Amount Annual Compounding Compounding Ecount Holder Deposited Interest Rate Periods Per Year (M) Periods (Years) eodore Logan III $ 1.000 16% 5 mell Coles 94 000 12 2 a Elliot 7,000 8 1 6 yne Robinson 121,000 12 12 Nce Chung 31,000 6 y Cravens 13,000 8 The amount of money in Theodore Logan 's account at the end of 5 years will be s (Round to the nearest cent) 18 4