(A) Discuss the similarities and differences in the graphs of future value FV as a function of time t for ordinary annuities in which $100 is deposited each month for 8 years and interest is compounded monthly at annual rates of 4%, 8%, and 12%, respectively (Fig. 3).

(B) Discuss the connections between the graph of the equation y = 100t, where t is time in months, and the graphs of part (A).

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Figure 3 Future value ($) A 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0 0 12 24 36 48 60 72 84 96 Time (months) Future value at 12% Future value at 8% Future value at 4%