Suppose $8500 is deposited into a savings account earning 5% interest compounded quarterly. Find the balance in the account in 5 years, rounded to the nearest cent. Use one of the formulas below to solve the problem. Future Value: A = P (1+) m7 Present Value: P = (1+) 1) $10,897.32 2) $9,044.70 3) $13,845.60