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Linda Williams invested $8,000 at 7% annual interest, and left the money invested without withdrawing any of the interest for 12 years. At the end
Linda Williams invested $8,000 at 7% annual interest, and left the money invested without withdrawing any of the interest for 12 years. At the end of the 12 years, Linda withdrew the accumulated amount of money. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) (a) What amount did Linda withdraw, assuming the investment earns simple interest? The amount Linda withdrew $ (b) What amount did Linda withdraw, assuming the investment earns interest compounded annually? (Round answer to 2 decimal places, eg. 25.25.) The amount Linda withdrew $
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