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On January 1, 2016, you deposited $7,000 in a savings account. The account will earn 8 percent annual compound interest, which will be added to

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On January 1, 2016, you deposited $7,000 in a savings account. The account will earn 8 percent annual compound interest, which will be added to the fund balance at the end of each year. Required: 1. What will be the balance in the savings account at the end of 8 years? 2. What is the total interest for the 8 years? 3. How much interest revenue did the fund earn in 2016 and in 2017

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