Kenneth Clark invested $7,600 at 8% annual interest, and left the money invested without withdrawing any of the interest for 11 years. At the end of the 11 years, Kenneth withdrew the accumulated amount of money.

Kenneth Clark invested $7.600 at 8% annual interest, and left the money invested without withdrawing any of the interest for 11 years. At the end of the 11 years, Kenneth withdrew the accumulated amount of money. Click here to view the factor table 1. Table 2 Table 3 Table 4 (a) What amount did Kenneth withdraw, assuming the investment earns simple interest? The amount Kenneth withdrew $ (b) What amount did Kenneth withdraw, assuming the investment earns interest compounded annually (For calculation purposes, use 5 decimal places as displayed in the factor table provided, c.8.5.25471. Round answer to 2 decimal places, es. 25.25) The amount Kenneth withdrew TABLE 1 Future Value of 1 6% 28 15% Periods 20 2 9% 1.00000 00000t 00000 000001 1.00000 104000 1.08160 1.12485 1.16956 1.21665 2 5% 1.00000 1.05000 1.10250 1.15763 221551 1-27620 7% 1.00000 1.07000 1.14490 1.22504 1.31080 1.40255 106.000 1.12360 1.19102 1.26248 1-33823 1.00000 1.08000 1.166.00 1.29971 1.36049 2.46933 10% 2.00000 1.10000 121000 1.33100 145410 1.61051 1.18810 1.29503 1.41158 1.53862 11% 1.00000 111000 123210 136763 1.51807 1.68506 12% 1.00000 212000 1.25660 140193 1.57352 1.76214 3 215000 1.32250 1.52068 1.74901 201136 5 230300 6 7 1.26532 1:31593 136857 1.42331 1.48024 134010 1.40710 1.47746 155133 1,6258 141852 1 50363 1.5985 1.63918 1.790 1.50073 1.60578 1.72519 1346 1.96715 1.58687 1.71182 15093 199900 2.15892 1.67710 182806 1.99254 2.17189 2.26736 1.27156 1.96572 2.14359 215795 299394 COSO 187001 207616 210454 25580 28962 1.97382 2.21068 247596 2.77308 1058 6 35 40455 TO STOSES 11 12 13 14 15 1.51945 1.60103 1.66507 12316 171034 189830 1.79556 201220 1.88565 21.1293 1.1993 226000 20793239656 2.10485 2.25219 2.40985 257853 2.75003 2.33164 2.51517 2.71962 293719 3.17217 258033 281267 306581 3.34173 16248 2.85312 311543 3.45227 1.79750 4.17733 3.15176 3.49845 3.85128 431041 47855 389598 36349 8711 S:47357 615374 707891 &23706 OOON 61019 91 1.8729 194790 2102 21923 CAS 3.42944 3.70002 3.02 431570 17 2 19 20 4.59497 310560 55592 61159 672750 392011 4.32763 1712 5.14166 560141 250015 2.95216 21272 285444 10. 161653 207142806 1999 266892 5:3109 SO 650155 726334 06231 CWSCO 10718 12275 1021 VO SS 21065 219112 19 9.60 16 SCORT 265930 TABLE 2 Future Value of an Annuity of (n) Payments 1 15% * 12% 5% 100000 8% 100000 11% 1.000,00 11000 7% 10000 2,0700 3.2149 2 00050 KIDZ 6% 110000 200000 318300 437462 5.63709 1.00000 204000 3.12160 424646 5.41013 9% 100000 2.000 227810 45730 5.94471 10% 1.000 210000 331000 64100 610510 100000 2.13000 33740 47790 3 OICE 3.15250 4.31013 332563 4 1.00000 215000 147250 1993 6.7423 3.34610 4.50611 5.86650 4,4999 5.2507 420073 6.22750 5 635285 7.33992 375374 63398 7.929 7.1533 65.00 2 O269 OLE 6.S0191 814201 9.54911 1102650 12.57789 6.97532 8.39384 9.89747 11:49132 752834 9.2004 11.0047 1302101 21421 10.2599 7.73561 9.45717 11.43549 12.57948 15.0743 7.91286 9.7827 1994 14.16397 16.72301 311519 1000 12.00 14.73566 17 56 10.63665 12.45756 14 4656 . OBUSIT 10:50 13.00611 1223 16,7154 200872 10 CONTE 13.164 15.1920 1469 16.61549 1 STORE 1407164 16.94 1756629 2016072 5143 22.0319 12 CLISSE 29.000 GOE 13:4035 15.0581 104 IN 29191 20.00350 15.7436 17. 201400 22.5803 251200 2005 24.03313 23.00 12200 17.72 16 2157856 19111 PIERRE LOSTO COSEC DISCH 13117 21.14 3433271 27.9498 1174 1897713 2130 24.21492 27.15211 12.93119 201919 16092 JON 050471 15 % OCCO 3727972 IRONEL 7 AND NEDE 16 17 ASSET ILOVE LOOSE 23.67253 22 1423 40 S60 CE 100 27512 167 CRE CORO WE 25 21 4539917 3800140 3697351 4104 16.01 S1602 11.75023 5745024 414 4571 3059 5699 6507500 1513636 211 61 OSO 32799 37.3790 OSTS 63.466 TILS ONECO 30 3306 57.27500 ENOT TABLE Present Value of (H) Periods ( X 5% 8% 301 15% 12% 22 SHO 1519 9430 92595 9% 9123 84164 9009 SESS COLO 11 soos 9 SON 00068 HELSE 79719 11 35614 65751 1 1630 79883 HELL SH ZEIS TON 9119 86384 82270 006 ONTS STEN 4 89963 79000 74726 0629 TAS 57175 POSTO COSEL SONS 7041 6993 712 6209 59345 5 STAR 74632 150 CORY 70196 S0663 LEWE 15464 CE HE 752 72068 9059 SZES 5647 32310 4651 SEES ROSE 62741 38349 56007 50025 201 54700 50187 46000 40 IS OP 54393 1995 TOV 19 LOTTE ES 10 LEY SES IN 38554 3019 MIOS 31724 319 11 58454 4750 60 WS 1995 LE 12 1 4 39731 36770 S. SOR SSSE VO ISESTI 32911 ETH LOS COLS 14 1774 50507 ON DUBE 2310 20000 CUTE ON 41722 24 HESEC ISTER 15 2390 CES WIE LE 9 TIS 30 INS LO 13 37 LEIS 19 27037 CHE ORI NE CSS Visar SVE LE POSE STONE SORE SICE ILE SONIC HOOT TV 1919 ISES LO OL CONCU 106 TABLE 4 Present Value of an Annuity of 1 (n) Payments 66 7% 4% 96154 8% 28 10 IT % 123 1545 10 SHO 1995 16 ARE 0600 5% 9573 191 2.72025 1991 DOST 1. 91345 175911 233130 1057 2770 20 1.73554 28 4 267301 6511 421236 26342 13721 416000 1.78336 257710 33120 390271 9 1.00 2010 SONT 1.71252 24071 10045 690 SALE CSIS LATE SY 170 LORE 6 CO 3.07 57617 6.48321 WOOD 19173 SU 6.2017 SY 62 41114 6 30395 TUT 21054 471230 31463 5206 64 WEST CHO 5971 2192 TA Se BORE 7. 7.72173 651573 70215 10 641766 145 3.A 13 60319 6.90 74 796 3370 1 12 ST WIL 73 08 ERG VA SWICE 7. TO13 CINZ HOWS YER 19 10 SLS TO 16 OCESI ALBE LORELLI 10 10:47 116 NO 10520 IP 19 TI ORE OM C 14 TIDS SS 11 10 SRI