7. Lynn Downey has $500 to invest. She wants to know how much it will amount to if she invests it at: 1. 6% per year for 20 years? 2.8% per year for 15 years? 8. Marshall Bennett wishes to have $15,000 at the end of 8 years. How much must he invest today to accomplish this purpose at an interest rate of 6% per year? 9. Chris Nix invests $20,000 at 8% annual interest (compounded annually), leaving the money invested (without withdrawing any interest) for 8 years. At the end of 8 years, Chris withdrew the accumulated amount of money. 1. Compute the amount of money Chris was able to withdraw. 2. Compute the amount of money Chris would be able to withdraw, if interest was compounded semi-annually (twice a year). 10. Daniel Adam needs $200,000 in 10 years. How much must he invest at the end of each year, at 11% interest, to meet his needs