8. State the formula you would use in each of the following scenarios. Justify your answer. [C6] a. Joseph invested $1 040 into an account that earned 5%, for 7 years. b. Mary needs $5 000 in 4 years, invested at 6%, compounded quarterly. c. Carlos borrowed $7 955 for his first car, from the bank, that charged 2.9%, for 5 years, compounded annually.