Lily Altidore invested $10,000 at 8% annual interest, and left the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years, Lily withdrew the accumulated amount of money. Click below to view the factor tables. Table 1. Future Value of 1 Table 2. Future Value of an Annuity of 1 Table 3. Present Value of 1 Table 4. Present Value of an Annuity of 1 (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) (a) What amount did Lily withdraw, assuming the investment earns simple interest?

Accumulated amount

$

(b) What amount did Lily withdraw, assuming the investment earns interest compounded annually? (Round answer to 2 decimal places, e.g. 25.25.)

Accumulated amount

$