You can earn $54 in interest on a $1,000 deposit for 8 months. If the EAR is the same regardless of the length of the investment, how much interest will you earn on a $1,000 deposit for:

a) 3 mos

b) 1 year

c) 1.7 years

Additionally:

a) 3- mos. For a 3-month, $1,000 deposit you will earn how much?

b) 1-year. For a 1-year, $1,000 deposit you will earn how much?

c) 1.7-years. For a 1.7 year, $1,000 deposit you will earn how much?