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Suppose $6,000 is invested at 36% compounded monthly (i.e., 12 times a year). (a) What will the accumulated amount be after 7 years? Exact

Suppose $6,000 is invested at 36% compounded monthly (i.e., 12 times a year). (a) What will the accumulated amount be after 7 years? Exact accumulated amount (without using a calculator) 23,350 Accumulated amount, rounded to 2 decimal places =23,350.20 X X dollars (b) How much interest accrued during the 7 years? Interest, rounded to 2 decimal places = 17350.20 X dollars dollars

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