Find the future value and interest earned if $8706.54 is invested for 8 years at 6%

Flat 12,885.68

Compound 13,876.90

Step-by-step explanation:

Flat rate (6% of only the amount you invested originally per year (based on investment) -

(8706.54*.06)*8+8706.54=12885.68 (rounded)

Compound interest (6% interest on total money earned per year(based on amount invested previous year).)

8706.54*1.06)*1.06)*1.06)*1.06)*1.06)*1.06)*1.06)*1.06)=13,876.90