A recent college graduate decides to invest the $7,000 he received for his college graduation in a fund earning 4% annual interest for five years. At the end of the five-year period, he expects to withdraw the money to purchase a reasonably priced used car. Requirement a. Answer the following questions: What amount would the graduate withdraw after five years, if the investment ears simple interest? b. What amount would the graduate withdraw after five years if interest is compounded annually? c. What amount would the graduate withdraw after five years if interest is compounded semiannually? d. What amount would the graduate withdraw after five years if interest is compounded quarterly