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Margaret Altidore invested $ 6 , 8 0 0 at 6 % annual interest, and left the money invested without withdrawing any of the interest
Margaret Altidore invested $ at annual interest, and left the money invested without withdrawing any of the interest for years. At the end of the years, Margaret withdrew the accumulated amount of money.
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For calculation purposes, use decimal places as displayed in the factor table provided.
a What amount did Margaret withdraw, assuming the investment earns simple interest?
The amount Margaret withdrew
b What amount did Margaret withdraw, assuming the investment earns interest compounded annually? Round answer to decimal places, eg
The amount Margaret withdrew
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