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8. -/1 POINTS AUFEXC4 11.1.006. Calculate the simple interest earned. Round to the nearest cent. P = $2900, / = 5.8%, t = 6 months 12. -/1 POINTS AUFEXC4 11.2.007. Calculate the compound amount. Use the compound amount formula and a calculator. (Round your answer to two decimal places.) P = $9900, r = 7% compounded daily, t = 6 years 13. -/3 POINTS AUFEXC4 11.2.043. $41,000 is deposited for 4 years in an account earning 2% interest. (Round your answers to two decimal places.) (a) Calculate the interest earned if interest is compounded semiannually. (b) Calculate the interest earned if interest is compounded quarterly. (c) How much more interest is earned on the account when the interest is compounded quarterly? 14. -/2 POINTS AUFEXC4 11.2.046. MY NOTES decimal places.) You borrow $6000 to help pay your college expenses. You agree to repay the loan at the end of 9 years at 11% interest, compounded quarterly. (Round your answers to two (a) What is the maturity value of the loan? (b) How much interest are you paying on the loan? 15. -/1 POINTS AUFEXC4 11.2.047. MY NOTES A couple plans to save for their child's college education. What principal must be deposited by the parents when their child is born in order to have $42,000 when the child reaches the age of 18? Assume the money earns 8% interest, compounded quarterly. (Round your answer to two decimal places.) S