Intro You put $1,000 into a savings account that pays 5% in annual interest. Part 1 - Attempt 3/3 for 0 pts. How much money will you have after 8 years if the account pays only simple interest? 1058 Incorrect Interest per year: Int PV I = 1,000 0.05 = 50 Future value: FV = PV + N Int = 1,000 + 8 50 = 1,400 Part 2 | Attempt 1/3 for 10 pts. How much money will you have after 8 years if the account pays interest compounded annually? 0+ decimals Submit