Paul White invested $7,200 at 8% annual interest, and left the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years, Paul withdrew the accumulated amount of money. Click here to view the factor table 1. Table 2 Table 3 Table 4 (a) What amount did Paul withdraw, assuming the investment earns simple interest? The amount Paul withdrew (b) What amount did Paul withdraw, assuming the investment earns interest compounded annually? (For calculation purposes, use 5 decimal places as displayed in the factor table provided, e.g. 5.25471. Round answer to 2 decimal places, e.g. 25.25.) The amount Paul withdrew $

Paul White invested $7,200 at 8% annual interest, and left the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years, Paul withdrew the accumulated amount of money. Click here to view the factor table 1. Table 2 Table 3 Table 4 (a) What amount did Paul withdraw, assuming the investment earns simple interest? The amount Paul withdrew. $ (b) What amount did Paul withdraw, assuming the investment earns interest compounded annually? (For calculation purposes, use 5 decimal places as displayed in the foctor table provided, eg. 5.25471. Round answer to 2 decimal ploces, eg. 25.25.) The amount Paul withdrew $