Determine the balance 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 2. $1234 is invested at 5.6% annual interest for 7 years. a. Simple Interest 3. $10,000 is invested at 0.75% annual interest for 2 years. a. Simple Interest $987.65 is invested at 0.4% annual interest for 5 years. a. Simple Interest 5. $500 is invested at 4.3% annual interest for 18 months. a. Simple Interest b. Compound Interest b. Compound Interest b. Compound Interest b. Compound Interest b. Compound Interest Determine the balance 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 2. $1234 is invested at 5.6% annual interest for 7 years. a. Simple Interest 3. $10,000 is invested at 0.75% annual interest for 2 years. a. Simple Interest $987.65 is invested at 0.4% annual interest for 5 years. a. Simple Interest 5. $500 is invested at 4.3% annual interest for 18 months. a. Simple Interest b. Compound Interest b. Compound Interest b. Compound Interest b. Compound Interest b. Compound Interest