Question: Suppose you found a CD that pays 3.9% interest compounded monthly for 3 years. If you deposit $8,000 now, how much will you have in

Suppose you found a CD that pays 3.9% interest compounded monthly for 3 years. If you deposit $8,000 now, how much will you have in the account in 3 years? (Round to the nearest cent.) What was the interest earned? (Round to the nearest cent.) Now suppose that you would like to have $20,000 in the account in 3 years. How much would you need to deposit now? (Round to the nearest cent.)

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