(Related to Checkpoint 5.2) (Future value) (Simple and compound interest) If you deposit $1,000 today into an account earning an annual rate of return of 8 percent, in the third year how much interest would be earned? How much of the total is simple interest and how much results from compounding of interest? If you deposit $1,000 today into an account earning an annual rate of return of 8%, in the third year how much interest would be earned? $ (Round to the nearest cent.)