Exercise 6-2 (Part Level Submission) Alan Jackson invests $36,400at8% annual interest, leaving the money invested without withdrawing any of the interest for8years. At the end of the8years, Alan withdraws the accumulated amount of money.

(a)

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Compute the amount Alan would withdraw assuming the investment earns simple interest. (Round answers to 0 decimal places, e.g. 458,581.)

Total withdrawn

$

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(b) The parts of this question must be completed in order. This part will be available when you complete the part above.

(c)

Sosa Excavating Inc. is purchasing a bulldozer. The equipment has a price of $102,000. The manufacturer has offered a payment plan that would allow Sosa to make15equal annual payments of $14,185, with the first payment due one year after the purchase.

(a) How much total interest will Sosa pay on this payment plan? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

Total interest

$

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(b)