35).

Time The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate. Principal $7000 Rate 8% Compounded daily 3.5 years A. Find how much money there will be in the account after the given number of years. (Assume 360 days in a year.) B. Find the interest earned. A. The amount of money in the account after 3.5 years is $ (Round to the nearest hundredth as needed.) B. The amount of interest earned is $ (Round to the nearest hundredth as needed.) Suppose you have $12,000 to invest. Which of the two rates would yield the larger amount in 5 years: 12% compounded monthly or 11.88% compounded continuously? Which of the two rates would yield the larger amount in 5 years? 11.88% compounded continuously 12% compounded monthly