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Morgan Bryant invests $41,000at9% annual interest, leaving the money invested without withdrawing any of the interest for7years. At the end of the7years, Morgan withdraws the

Morgan Bryant invests $41,000at9% annual interest, leaving the money invested without withdrawing any of the interest for7years. At the end of the7years, Morgan withdraws the accumulated amount of money.

(a) Compute the amount Morgan would withdraw assuming the investment earns simple interest.

(b) Compute the amount Morgan would withdraw assuming the investment earns interest compounded annually.

compounded semiannually.

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