Chris Bryant invests $40,000 at 8% annual interest, leaving the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years, Chris withdraws the accumulated amount of money.

Instructions:

(a) Compute the amount Chris would withdraw assuming the investment earns simple interest.

(b) Compute the amount Chris would withdraw assuming the investment earns interest compounded annually.

(c) Compute the amount Chris would withdraw assuming the investment earns interest

compounded semiannually.