(Related to Checkpoint 5.2) (Future value) (Simple and compound interest) If you deposit $20,000 today into an account eaming an annual rate of return of 8 percent, in the third year how much interest would be eamed? How much of the total is simple interest and how much results from compounding of interest? If you deposit $20,000 today into an account eaming an annual rate of return of 8%, in the third year how much interest would be eamed? $ (Round to the nearest cent.) (Related to Checkpoint 5.4) (Present value) Sarah Wiggum would like to make a single investment and have $2.5 million at the time of her retirement in 35 years. She has found a mutual fund that will earn 5 percent annually. How much will Sarah have to invest today? If Sarah earned an annual return of 16 percent, how soon could she then retire? a. If Sarah can earn 5 percent annually for the next 35 years, the amount of money she will have to today is $ (Round to the nearest cent.)