1. If $2300 is deposited in an account paying an annual interest rate of 7%
compounded annually and left there for eight years, how much money will be in the account at the end of the eight years? How much interest will be
earned?

2. If $6,543.21 is
deposited into an account earning 7.6% compounded monthly and left there for 15 years, how much will the account be worth? How much interest will be
earned?