Answer:
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
