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You graduate and receive a $3,000 cheque from your grandparents. You decide to save it toward a down payment on a house. You invest it

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You graduate and receive a $3,000 cheque from your grandparents. You decide to save it toward a down payment on a house. You invest it earning 12% per year, and you think you will need to have $6,000 saved for the down payment. How long will it be before the $3,000 has grown to $6,000? To double the money you received from your grandparents, it will take years. (Round to one decimal place.)

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