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(Related to The Business of Life: Saving for Your First Houso) (Future value) You ase hoping to buy a house in the thoure and recently

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(Related to The Business of Life: Saving for Your First Houso) (Future value) You ase hoping to buy a house in the thoure and recently received an inberitance of $24,0c0. You intosd to use your inheritance as a down payment on your house: a. If you put your inheritance in an account that earns 7 percont interest compounded annualy, how macy years will a be before your inhontance growz to $33.000 ? b. If you iet your money grow for 9.5 yoars at 7 porcent, how much will you have? c. How long will it take your money to grow to $33,000 if you mowe it ints an account that pays 5 percent compounded annualy? How long wilit take your money to grow to $31,000 if you mowo 2 into an acoount that pays 13 parcent? d. What does all this tell you about the relasionship among interest rates, fime, and future surns? a. If you put your inhertance in an acoount that eams 7 percent interest compounded amusly, how many yean wa it be before your inhartance grows to 533,000 ? years (Round to one decimal plase.)

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