Time valuePersonal Finance ProblemYou have

$1 , 800 to invest today at 8% interest compounded annually.a.Find how much you will have accumulated in the account at the end of (1)

years, (2) 8 years, and (3)12 years.b.Use your findings in part a to calculate the amount of interest earned in (1) the first 4years (years 1 to

4),

(2) the second 4 years (years5 to 8), and (3) the third 4 years (years9 to 112).

c.Compare and contrast your findings in part b.Explain how the amount of interest earned changes in each succeeding 4-year period.

a.(1) At the end of 4years, the amount you will have accumulated is $ .-------(Round to the nearest cent.)