Questions: 8000 are invested in a bank account at an interest rate of 5 percent per year. Find the amount in the bank after 7 years if interest is compounded annually. Find the amount in the bank after 7 years if interest is compounded quarterly. Find the amount in the bank after 7 years if interest is compounded monthly. Finally, find the amount in the bank after 7 years if interest is compounded continuously.

Given the principal amount \(P = 8000\), annual interest rate \(r = 0.05\), compounding frequency \(n = 4\) times per year, and time period \(t = 7\) years, the future value \(FV\) is calculated using the formula:

\[ FV = P(1 + rac{r}{n})^{nt} \]

Substituting the given values, we get:

\[ FV = 8000(1 + rac{0.05}{4})^{4*7} = 11327.94 \]

Given the principal amount \(P = 8000\), annual interest rate \(r = 0.05\), compounding frequency \(n = 12\) times per year, and time period \(t = 7\) years, the future value \(FV\) is calculated using the formula:

\[ FV = P(1 + rac{r}{n})^{nt} \]

Substituting the given values, we get:

\[ FV = 8000(1 + rac{0.05}{12})^{12*7} = 11344.29 \]

Given the principal amount \(P = 8000\), annual interest rate \(r = 0.05\), and time period \(t = 7\) years, the future value \(FV\) with continuous compounding is calculated using the formula:

\[ FV = Pe^{rt} \]