Time value Personal Finance Problem You have $$3,600$ to invest today at $7\%$ interest compounded annually.

a$.$ Find how much you will have accumulated in the account at the end of $(1)5$ years, $(2)10$ years, and $(3)15$ years.

b$.$ Use your findings in part a to calculate the amount of interest earned in $(1)$ the first $5$ years $($years $1$ to $5),(2)$ the second $5$ years $($years $6$ to $10),$ and $(3)$ the third $5$ years $($years $11$ to $15).$

c$.$ Compare and contrast your findings in part b$.$ Explain why the amount of interest earned increases in each succeeding $5-$year period.

a$.(1)$ At the end of $5$ years, the amount you will have accumulated is $ $($Round to the nearest cent.$)$

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$4/23/2024$

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