Draw a timeline in your notes to practice, then use the one below to help you! When Nancy died, she left $20,000 for her 13 year old grandson, Max, to be paid to him as an annual scholarship of $8000 at the end of each year, if he ends up in university. The inheritance was invested in a scholarship fund for 5 years (until he turns 18 years old) at 9% compounded annually. How long will the scholarship be paid for, once Max enters university? = ? ' = ? Select one: a. 3 years b. 5 years c. 6 years d. 4 years e. 7 years