1) The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate. Find

how much money will be in the account after the given number of years (Assume 360 days in a year.), and how much interest was

earned.

Principal: $5000

Rate: 5%

Compounded: annually

Time: 3 years

2) Principal: $10,000

Rate: 5%

Compounded: semiannually

Time: 5 years

3) Principal: $9500

Rate: 7%

Compounded: quarterly

Time: 3 years

4) Principal: $3500

Rate: 4.5%

Compounded: monthly

Time: 4 years

5) Principal: $40,000

Rate: 7.5%

Compounded: daily

Time: 10 years