# Question: Jerry Rees invested 8 000 at 5 annual interest and left

Jerry Rees invested $8,000 at 5% annual interest, and left the money invested without withdrawing any of the interest for 12 years. At the end of the 12 years, Jerry with-drew the accumulated amount of money.

(a) What amount did Jerry withdraw, assuming the investment earns simple interest?

(b) What amount did Jerry withdraw, assuming the investment earns interest compounded annually?

(a) What amount did Jerry withdraw, assuming the investment earns simple interest?

(b) What amount did Jerry withdraw, assuming the investment earns interest compounded annually?

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