Question 8 (2 points) Calculate the EAR of 12% compounded monthly. O 14.47% 10.47% 13.45% 11.47% 12.47% You will be receiving $5.000 from your family as a graduation present. You have decided to save this mom for your retirement. You plan to retire thirty-five years after graduating. How much additional money will you have at that time if you can earn an average of 8.5% on your investment instead of just 8%? $12,971.49 $13.234.44 $13,309.85 $13,008.47 $13.123.93 What is the future value of $3,497 invested for 15 years at 7.5% compounded annually? $7,431.13 $10.347.19 $14,289.16 $14.911.08 $15,267.21