3. Time value Personal Finance Problem You have $1,200 to invest today at 6% interest compounded annually. a. Find how much you will have accumulated in the account at the end of (1) 2 years, (2) 4 years, and (3) 6 years. b. Use your findings in part a to calculate the amount of interest earned in (1) the first 2 years (years 1 to 2), (2) the second 2 years (years 3 to 4), and (3) the third 2 years (years 5 to 6). c. Compare and contrast your findings in part b. Explain how the amount of interest earned changes in each succeeding 2-year period. a. (1) How much will you have accumulated in the account at the end of 2 years? $D (Round to the nearest cent.) (2) How much will you have accumulated in the account at the end of 4 years? $D (Round to the nearest cent.) (3) How much will you have accumulated in the account at the end of 6 years? $D (Round to the nearest cent.) b. (1) From your findings in part a, what is the amount of interest earned in the first 2 years (years 1 to 2)? $D (Round to the nearest cent.) (2) From your findings in part a, what is the amount of interest earned in the second 2 years (years 3 to 4)? $D (Round to the nearest cent.) (3) From your findings in part a, what is the amount of interest earned in the third 2 years (years 5 to 6)? $D (Round to the nearest cent.) c. According to the findings in part b, the amount of interest earned in each succeeding 2-year period due to compounding. (Select from the drop-down menu.)