Simple and Compound Interest Computations) Alan Jackson invests

$20,000

at

8%

annual interest, leaving the money

8

years. At the

end of the

8

years, Alan withdrew the accumulated amount of money.

Instructions:

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

Text Title

Formula

Text Title

Amount

Text Title

Formula

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

Text Title

Formula

Text Title

Amount

Text Title

Formula

(c) Compute the amount Alan would withdraw assuming the investment earns interest compounded semi-annually.

Text Title

Formula

Text Title

Amount

Text Title

Formula