The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate.

| Principal | Rate | Compounded | Time |
|-----------|------|------------|------|
| [tex]$8000 | 4% | Monthly | 1 year|

A. Find how much money there will be in the account after the given number of years.
B. Find the interest earned.

\ \textless \ strong\ \textgreater \ Finance Formulas:\ \textless \ /strong\ \textgreater \

- \( A = P \left(1 + \frac{r}{n}\right)^{nt} \)
- \( P = \frac{A}{\left(1 + \frac{r}{n}\right)^{nt}} \)
- \( A = Pe^{rt} \)
- \( Y = \left(1 + \frac{r}{n}\right)^n - 1 \)

Where:
- \( A \) is the balance in the account after \( t \) years
- \( P \) is the principal investment
- \( r \) is the annual interest rate in decimal form
- \( n \) is the number of compounding periods per year
- \( Y \) is the investment's effective annual yield in decimal form

\ \textless \ strong\ \textgreater \ Questions:\ \textless \ /strong\ \textgreater \

A. The amount of money in the account after 3 years is $[/tex] _______. (Round to the nearest hundredth as needed.)
B. The amount of interest earned is $ _______. (Round to the nearest hundredth as needed.)