31).

A bank offers a CD that pays a simple interest rate of 6.0%. How much must you put in this CD now in order to have $1,000 for a home-entertainment center in 5 years. The present value that must be invested to get $1,000 after 5 years at an interest rate of 6.0% is $ (Round up to the nearest cent.) Rate Compounded Time The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate. Principal $8000 7% annually 3 years A. Find how much money there will be in the account after the given number of years. B. Find the interest earned. A. The amount of money in the account after 3 years is $ (Round to the nearest hundredth as needed.) B. The amount of interest earned is $ (Round to the nearest hundredth as needed.)