Suppose you invest $1,250 in an account paying 4% interest per year a. What is the balance in the account after 4 years? How much of this balance corresponds to "interest on interest"? b. What is the balance in the account after 32 years? How much of this balance corresponds to "interest on interest"? a. What is the balance in the account after 4 years? The balance in the account (with compounded interest) after 4 years is $ (Round to the nearest cent.) The balance in the account (with simple interest) after 4 years is $ (Round to the nearest cent.) How much of this balance corresponds to "interest on interest"? The interest on interest is $ . (Round to the nearest cent.) b. What is the balance in the account after 32 years? The balance in the account (with compounded interest) after 32 years is (Round to the nearest cent.) The balance in the account (with simple interest) after 32 years is $ (Round to the nearest cent.) The interest on interest is $ . (Round to the nearest cent.)