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Alan Jackson invests $58,800 at 10% annual interest, leaving the money invested without withdrawing any of the interest for 8 years. At the end of
Alan Jackson invests $58,800 at 10% annual interest, leaving the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years, Alan withdraws the accumulated amount of money. (c) Your answer is incorrect. Click here to view factor tables. Compute the amount Alan would withdraw assuming the investment earns interest compounded semiannually. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)
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