You are hoping to buy a house in the future and recently received an inheritance of $22,000. You intend to use your inheritance as a down payment on your house.

If you put your inheritance in an account that earns 9 percent interest compoundedannually, how many years will it be before your inheritance grows to $32,000?

If you let your money grow for 10.25 years at 9 percent, how much will youhave?

How long will it take your money to grow to $32,000 if you move it into an account that pays 5 percent compoundedannually? How long will it take your money to grow to $32,000 if you move it into an account that pays 12 percent?

What does all this tell you about the relationship among interestrates, time, and futuresums?