$($Related to Checkpoint$5\mathrm{.}2)($Future value$)$Leslie$$ Mosallam, who recently sold her$$ Porsche, placed $$$$11$ comma $000$ in a savings account paying annual compound interest of $6$ percent.

a$.$Calculate the amount of money that will accumulate if Leslie leaves the money in the bank for $3,7,$ and $17$year$($s$).$

b$.$Suppose Leslie moves her money into an account that pays $8$ percent or one that pays $10$ percent. Rework part $($a$)$ using $8$ percent and $10$ percent.

c$.$What conclusions can you draw about the relationship between interest$$ rates, time, and future sums from the calculations you just$$ did?

Question content area bottom

Part $1$

a$.$After placing $$$$11$ comma $000$ in a savings account paying annual compound interest of $6$ percent$,$ the amount of money that will accumulate if Leslie leaves the money in the bank for $3$year$($s$)$ is $$$

$$

enter your response here. $($Round to the nearest$$ cent.$)$

Part $2$

If she leaves the money in the bank for $7$years$,$ the amount of money that will accumulate is $$$

$$

enter your response here. $($Round to the nearest$$ cent.$)$

Part $3$

If she leaves the money in the bank for $17$years$,$ the amount of money that will accumulate is $$$

$$

enter your response here. $($Round to the nearest$$ cent.$)$

Part $4$

b$.$ If Leslie moves her money into an account that pays $8$ percent compounded annually for $3$year$($s$),$ the amount of money that will accumulate is $$$

$$

enter your response here. $($Round to the nearest$$ cent.$)$

Part $5$

If Leslie moves her money into an account that pays $8$ percent compounded annually for $7$years$,$ the amount of money that will accumulate is $$$

$$

enter your response here. $($Round to the nearest$$ cent.$)$

Part $6$

If Leslie moves her money into an account that pays $8$ percent compounded annually for $17$years$,$ the amount of money that will accumulate is $$$

$$

enter your response here. $($Round to the nearest$$ cent.$)$

Part $7$

If Leslie moves her money into an account that pays $10$ percent compounded annually for $3$year$($s$),$ the amount of money that will accumulate is $$$

$$

enter your response here. $($Round to the nearest$$ cent.$)$

Part $8$

If Leslie moves her money into an account that pays $10$ percent compounded annually for $7$years$,$ the amount of money that will accumulate is $$$

$$

enter your response here. $($Round to the nearest$$ cent.$)$

Part $9$

If Leslie moves her money into an account that pays $10$ percent compounded annually for $17$years$,$ the amount of money that will accumulate is $$$

$$

enter your response here. $($Round to the nearest$$ cent.$)$

Part $10$

c$.$What conclusions can you draw about the relationship between interest$$ rates, time, and future sums from the calculations you just$$ did?$$

There is a

$$

positive

negative

relationship between the interest rate used to compound a present sum and the future value of that sum. There is a

$$

positive

negative

relationship between the number of years for which the compounding continues and the future value of that sum.$($Select from the$$ drop$-$down menus.$)$