You invest $$800$ at an annual rate of $8\%$ for $12$ years. How much more interest would you earn with compound interest than with simple interest for $($a$)$ the whole $12$ years; and $($b$)$ in just year $7$ by itself?

COMPOUND VS$.$ SIMPLE INTEREST

ANNUAL RATE

AMOUNT TODAY

ENDING YEAR

SINGLE YEAR WITHIN FULL PERIOD

TOTAL INTEREST FOR FULL PERIOD

$8\mathrm{.}00\%$

$$800\mathrm{.}00$

$12$

$7$

$8\%$

SIMPLEINTEREST FOR EACH AND EVERY YEAR

SIMPLE INTEREST FOR FULL PERIOD

MORE COMPOUND INTEREST THAN SIMPLE FOR FULL PERIOD

$$768\mathrm{.}00$

COMPOUND INTEREST FOR SINGLE YEAR WITHIN FULL PERIOD

MORE COMPOUND INTEREST THAN SIMPLE FOR SINGLE YEAR

$($Please show each excel calculation from $5-10$ how you got the answer$)$