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Suppose $6,000 is invested at 48% compounded monthly (i.e., 12 times a year). (a) What will the accumulated amount be after 8 years? Exact accumulated

Suppose $6,000 is invested at 48% compounded monthly (i.e., 12 times a year). (a) What will the accumulated amount be after 8 years?

Exact accumulated amount (without using a calculator) =_________dollars

(DO NOT ROUND)

Accumulated amount, rounded to 2 decimal places = __________dollars

(b) How much interest accrued during the 8 years? Interest, rounded to 2 decimal places = __________dollars

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