Congratulations on your bonus! You've been doing such a good job at work, you have been given $5,000 bonus. Instead of buying something today, you decide to save it. You put it in an investment account that earns 8% interest per year with annual compounding. In ten years, you cash out the account. How much will you have in ten years?

1. are you trying to find a PV or FV?
2. show your calculations using the formula
3. show your calculations using the keystrokes for your financial calculator (state which financial calculator you are using)
4. what would your answer be if compounding was monthly and why is there a difference?