A recent college graduate decides to invest the $12,000 he received for his college graduation in a fund earning 16% annual interest for five years. At the end of the five-year period, he expects to withdraw the money to purchase a reasonably priced used car. Read the requirement. (Use the present value and future value tables, a financial calculator, or a spreadsheet for your calculations. If using present and future value tables or the formula method, use factor amounts rounded to five decimal places, X.XXXXX. Round your final answer to the nearest cent, $X.XX.) a. What amount would the graduate withdraw after five years, if the investment earns simple interest