BE6-1 (L02) Chris Spear invested $15,000 today in a fund that earns 8% compounded annually. To what amount will the investment grow in 3 years? To what amount would the investment grow in 3 years if the fund earns 8% annual interest com- pounded semiannually? BE6-2 (L02) Tony Bautista needs $25,000 in 4 years. What amount must he invest today if his investment earns 12% com- pounded annually? What amount must he invest if his investment earns 12% annual interest compounded quarterly? BE6-3 (L02) Candice Willis will invest $30,000 today. She needs $150,000 in 21 years. What annual interest rate must she earn? E6-2 (L01,2) EXCEL (Simple and Compound Interest Computations) Alan Jackson invests $20,000 at 8% 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. Instructions (a) Compute the amount Alan would withdraw assuming the investment earns simple interest. (b) Compute the amount Alan would withdraw assuming the investment earns interest compounded annually. (c) Compute the amount Alan would withdraw assuming the investment earns interest compounded semiannually.

BE6-1 (L02) Chris Spear invested $15,000 today in a fund that eams 8% compounded annually. To what amount will the investment grow in 3 years? To what amount would the investment grow in 3 years if the fund earns 8% annual interst compounded semiannually? BE6-2 [L02) Tony Bautistz, needs $25,000 in 4 years. What amount must he invest today if his investment earns 12% compounded annually? What amount must he invest if his investment eams 12% annual interest compounded quarterly? BE6-3 (L02) Candice Willis will invest $30,000 today. She needs $150,000 in 21 years. What annual interest rate must she carn? E6-2 (L01,2) EXCEL (Simple and Compound Interest Computations) Alan Jackson invests $20,000 at 8% annual interest. leaving the money invested without withdrawing any of the interest for 8 years. At the end of the 8 yours, Alan withdraws the accumulated amount of money. Instructions (a) Compute the amount Alan would withdraw assuming the investment cams simple interest. (b) Compute the amount. Alan would withdraw assuming the investment cams interst compounded annually. (c) Compute the amount Alan would withdraw assuming the investment carns interest compounded semiannually