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Donna Clark invested $ 7 , 0 0 0 at 1 1 % annual interest, and left the money invested without withdrawing any of the
Donna Clark invested $ at annual interest, and left the money invested without withdrawing any of the interest for years. At the end of the years, Donna withdrew the accumulated amount of money. Click here to view the factor table. For calculation purposes, use decimal places as displayed in the factor table provided. a What amount did Donna withdraw, assuming the investment earns simple interest? The amount Donna withdrew $ b What amount did Donna withdraw, assuming the investment earns interest compounded annually? Round answer to decimal places, eg The amount Donna withdrew $
Donna Clark invested $ at annual interest, and left the money invested without withdrawing any of the interest for years. At the end of the years, Donna withdrew the accumulated amount of money.
Click here to view the factor table.
For calculation purposes, use decimal places as displayed in the factor table provided.
a What amount did Donna withdraw, assuming the investment earns simple interest?
The amount Donna withdrew
$
b What amount did Donna withdraw, assuming the investment earns interest compounded annually? Round answer to decimal places, eg
The amount Donna withdrew
$
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