You are about to have your first child. Your parents offer to deposit money on day your child is born that will earn interest for 18 years and be avalloble to help pay for college. The occount will pay 12% interest per year. If your parents want the deposit to be worth $60.000 on your child's 18 th birthday, how much must they deposit on the day your child is born? LO4 $15,637.13 $9,943.69 $7.802.38 $20.359.49 You have on investment opportunity. If you pay $3,200 today, you can teceive $3.500 in three years. Saving the money in an interestbearing occount is your next best opportunity, Your bank is offering 2% interest per year on deposits. Should you take the investment opportunity? LO2 You deposit $1,160 in an account that pays 8% interest per year. How long will it fake for the deposit to grow to $2,000$ Assume you do not make any other deposits or withdrawals. Round your answer to the nearest yeor. LO4 SixyearsfouryearsSevenyearsFiveyears