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