Question: Can I get some feedback, is this correct? thank you Elizabeth Altidore invested $8,000 at 9% annual interest, and left the money invested without withdrawing
Can I get some feedback, is this correct? thank you
Elizabeth Altidore invested $8,000 at 9% annual interest, and left the money invested without withdrawing any of the interest for 12 years. At the end of the 12 years, Elizabeth withdrew the accumulated amount of money. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) (a) What amount did Elizabeth withdraw, assuming the investment earns simple interest? The amount Elizabeth withdrew (b) What amount did Elizabeth withdraw, assuming the investment earns interest compounded annually? (Round answer to 2 decimal places, e.g. 25.25.) The amount Elizabeth withdrew
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