3(a). You want to retire 50 years from now, and you want access to ten million dollars ($10,000,000) when you do. You decide to put some money towards buying a certificate of deposit thatll be worth 10 mil in 50 years. The CD has an annual interest rate of 8%, and it compounds quarterly. How much do you have to put into this deposit?3

(b). Lets say you put an equal amount of money into a simple interest account with 16% annual interest. Is this a better investment? Determine this by calculating how much money will be in this account after 50 years