Part III Calculators permitted 19. Sinple interest. If P-$1,000 and R-8%, find: a) interest after one (1) year b) Value (Balance) after one (1) year e) Interest after eight (8) years d) Value after eight (8) years 20 Compound interest (Annual): tf P-$1,000 and R-8%, find: a) Value after one (1) year b) Interest after one (1) year c) Value after eight (8) years d) Interest after eight (8) years e) How much more interest do you earn with compounding versus simple after 8 years? 21. Compound interest (Quarterly): if P . $1,000, R-8%, and T a) R b) nT 8 (years), find: /o c) Value after eight (8) years d) Interest after eight (8) years e) How much more interest do you earn with quarterly versus annual compounding (see 24)