Tony Jackson invests $$30,700$ at $8\%$ annual interest, leaving the money invested without withdrawing any of the interest for $8$ years. At the end of the $8$ years, Tony withdraws the accumulated amount of money.

$($a$)$

Your Answer

Compute the amount Tony would withdraw assuming the investment earns simple interest.

Total withdrawn

$($b$)$

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Compute the amount Tony would withdraw assuming the investment earns interest compounded annually. $($Round factor values to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and final answer to $0$ decimal places, e$.$g$.458,581.)$

Total withdrawn $

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$($c$)$

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