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Lisa Altidore invested $ 7 , 0 0 0 at 7 % annual interest, and left the money invested without withdrawing any of the interest
Lisa Altidore invested $ at annual interest, and left the money invested without withdrawing any of the interest for years.
At the end of the years, Lisa 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 Lisa withdraw, assuming the investment earns simple interest?
The amount Lisa withdrew $
b What amount did Lisa withdraw, assuming the investment earns interest compounded annually? Round answer to decimal places,
eg
The amount Lisa withdrew
$
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