Module 7: Simple Interest I=PrtS=P(1+rt)P=1+rtsI=SP 1: Amount of Interest (\$) S: Future Value (\$) P. Present Value (\$) r : Nominal rate of interest (\%) t: Time Module 8: Compound Interest FV=PV(1+i)nPV=FV(1+i)norPV=(1+i)nFVi=mjn=mtCI=FVPV FV: Future Value (\$) PV : Present Value (\$) j : Nominal interest rate (\%) m : Frequency of compounding periods per year i : Periodic interest rate (\%) t : Time (years) n: Total number of compounding period in the term CI: Compound Interest amount (\$) Gonzalo invested $76,500 in a savings account at 4.94% compounded annually for 7 years and 11 months. a) Calculate the maturitv value of this amount at the end of the term s b) Calculate the amount of compound interest earned. s