Morgan Jackson invests $57,000 at 10% annual interest, leaving the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years, Morgan withdraws the accumulated amount of money. (a) Compute the amount Morgan would withdraw assuming the investment earns simple interest. Total withdrawn Attempts: 0 of 3 used Presented below are three unrelated situations. (a) Buffalo Company recently signed a lease for a new office building. for a lease period of 11 years. Under the lease agreement, a security deposit of $13,930 is made, with the deposit to be returned at the expiration of the lease, with interest compounded at 5% per year. Click here to view factor tables. What amount will the company receive at the time the lease expires? (Round factor values to 5 decimal places, eg. 1.25124 and final answer to 0 decimal places, es. 458,581 .) The company will receive $ Consider the following independent situations: Click here to view factor tables (a) Charles wishes to accumulate $1,700,000. His money market fund has a balance of $129,672 and has a guaranteed interest rate of 10%. How many years must Charles leave that balance in the fund in order to get his desired $1,700.000 ? (Round answer to 0 decimal places, eg. 45.) Number of years years Shamrock Excavating Inc. is purchasing a bulldozer. The equipment has a price of $103,000. The manufacturer has offered a payment plan that would allow Shamrock to make 10 equal annual payments of $18,229.37, with the first payment due one year after the purchase. (a) How much total interest will Shamrock pay on this payment plan? (Round answer to O decimal places, eg. 5,125.) Total interest Attempts: 0 of 3 used