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7. If you had $1,000 to invest into an account at 4% interest, would it be best if it was compounded monthly, (annually or simple interest with no compounding? Explain with complete sentences. (7 points) 8. If you needed a $1,000 loan, would it be best if it was compounded monthly, annually, or simple interest with no compounding? Explain with complete sentences. (7 points) 9. You need a $10,000 loan for 5 years, and your options are 5% interest compounded semiannually, 4.5% interest compounded daily, or 5.75% simple interest 365