Question: suppose you found a CD that pays 3.3% interest compounded monthly for 7 years. a. If you deposit $8,000 now, how much will you have

suppose you found a CD that pays 3.3% interest compounded monthly for 7 years.

a. If you deposit $8,000 now, how much will you have in the account in 7 years? (round to the nearest cent.)

b. what is the interest earned?

c. now suppose that you would like to have $20,000 in the account in 7 years. How much would you need to deposit now? (round to the nearest cent.)

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