Patricia Altidore invested $8,000 at 7% annual interest, and left the money invested without withdrawing any of the interest for 12 years. At the end of the 12 years, Patricia 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 Patricia withdraw, assuming the investment earns simple interest?

The amount Patricia withdrew		$enter the withdrawn amount in dollars rounded to 5 decimal places

(b) What amount did Patricia withdraw, assuming the investment earns interest compounded annually? (Round answer to 2 decimal places, e.g. 25.25.)

The amount Patricia withdrew		$enter the withdrawn amount in dollars rounded to 2 decimal places

Your answer is incorrect. Patricia Altidore invested $8,000 at 7% annual interest, and left the money invested without withdrawing any of the interest for 12 years. At the end of the 12 years, Patricia 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 Patricia withdraw, assuming the investment earns simple interest? The amount Patricia withdrew $ 14720 (b) What amount did Patricia withdraw, assuming the investment earns interest compounded annually? (Round answer to 2 decimal places, e.g. 25.25.) The amount Patricia withdrew $ 18017.53 e Textbook and Media Save for Later Last saved 10 minutes ago. Attempts: 2 of 3 used Submit