Suppose you invest $$$$800$ in an account paying $4\%$ interest per year.$$

a$.$ What is the balance in the account after $2$years$?$ How much of this balance corresponds to$$ "interest on$$ interest"?

b$.$ What is the balance in the account after $35$years$?$ How much of this balance corresponds to$$ "interest on$$ interest"?

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Part $1$

a$.$ What is the balance in the account after $2$years$?$ How much of this balance corresponds to$$ "interest on$$ interest"?

The balance in the account$($with compounded$$ interest$)$ after $2$ years is $$$

$$

enter your response here. $($Round to the nearest$$ cent.$)$

Part $2$

The balance in the account$($with simple$$ interest$)$ after $2$ years is $$$

$$

enter your response here. $($Round to the nearest$$ cent.$)$

Part $3$

The interest on interest is $$$

$$

enter your response here. $($Round to the nearest$$ cent.$)$

Part $4$

b$.$ What is the balance in the account after $35$years$?$ How much of this balance corresponds to$$ "interest on$$ interest"?

The balance in the account$($with compounded$$ interest$)$ after $35$ years is $$$

$$

enter your response here. $($Round to the nearest$$ cent.$)$

Part $5$

The balance in the account$($with simple$$ interest$)$ after $35$ years is $$$

$$

enter your response here. $($Round to the nearest$$ cent.$)$

Part $6$

The interest on interest is $$$

$$

enter your response here. $($Round to the nearest$$ cent.$)$