Daniel invested $13,400 at 6% annual interest. Daniel will not make any additional deposits or make any withdrawls for 12 years. After 12 years, Daniel will withdraw all the money.

a) How much money would Daniel have after 12 years assuming the investment earns simple interest?

b) How much money would Daniel have after 12 years assuming the investment is compounded annually?

c) How much money would Daniel have after 12 years assuming the investment compounds quarterly?

Answer rating: 100% (QA)

a To calculate the amount of money Daniel would have after 12 years with simple interest we use the ... View the full answer