An account is earning 5% annual interest, compounded quarterly. How much will it be worth in 8 years, if an initial investment of $5000 is put into the account and no withdrawals are made?

a.) State the i.) initial value, ii.) the multiplier, and iii.) the number of times the interest is compounded over the 8 years. i.) ii.)iii.)

b.) Write an equation to find the value of the account V(t) after any number of quarters t.

c.) What is the value of the account after 8 years?

d.) If the account earned 8% simple interest annually, how much would be in the account after 8 years? Show work