Determine the balance (A) and the amount of interest (1) earned for the following questions, when: a. the account is earning simple interest (1 = Prt . A = P +1) b. the account is earning yearly compounded interest (A = P(1 + r). I = A-P) 1. $3000 is invested at 3% annual interest for 3 years. a. Simple Interest b. Compound Interest 2. 2. $1234 is invested at 5.6% annual interest for 7 years. a Simple Interest b. Compound Interest 3. $10,000 is invested at 0.75% annual interest for 2 years. a Simple Interest b. Compound Interest 4. $987.65 is invested at 0.4% annual interest for 5 years. a. Simple Interest b. Compound Interest 5. $500 is invested at 4.3% annual interest for 18 months. a Simple Interest b. Compound Interest 6. $1000 is invested at 2.9% annual interest for 6 months. a. Simple Interest b. Compound Interest