1. If you put $800 into a bank account that pays 5 percent annual interest, how much would you have in the account after eight years? 2. Good old Grandpa gave Jake $7,500 toward his first year's tuition at Hardly University in Scarcely, Arkansas. Jake won't start university for another seven years, and he hopes to have $20,000 in his account at that time. What rate of return must he earn for that hope to come true?