Suppose you deposited $30,000 in a bank account that pays interest at a rate of 8% per year. Assume that you do not withdraw the interest earned at the end of each period (year), but you let it accumulate instead. A) How much would you have at the end of year 5 with simple interest? B) How much would you have at the end of year 5 with compound interest? C) Create a table that illustrates the beginning balance, the interest earned, and the ending balance for each type of interest scheme. D) Draw one cash flow diagram only. In order to get full credit and to show that you have a mastery of the concepts and applicable techniques, you must dissect the problem and show your approaches clearly, such as what's given, what to find, and the solution supported by a brief comment.

Suppose you deposited $30,000 in a bank account that pays interest at a rate of 8% per year. Assume that you do not withdraw the interest earned at the end of each period (year), but you let it accumulate instead. A) How much would you have at the end of year 5 with simple interest? B) How much would you have at the end of year 5 with compound interest? C) Create a table that illustrates the beginning balance, the interest earned, and the ending balance for each type of interest scheme. D) Draw one cash flow diagram only. In order to get full credit and to show that you have a mastery of the concepts and applicable techniques, you must dissect the problem and show your approaches clearly, such as what's given, what to find, and the solution supported by a brief comment