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WileyPLUS: MyWileyPLUSI Help | Contact Us I Log Out WileyPLUS Kieso, Intermediate Acunting, 16 INTERMEDIATE ACCOUNTING 1 & ? (ACC 201-202) Home Read, Study & Practice Assignment Gradebook ORION Downloadable cTextbook Assignment> Open Assignment CALCULATOR MESSAGE MY INSTRUCTOR FULL SCREEN PRINTER VERSION BACK NEXT ASSIGNMENT RESOURCES Newman Jackson invests $53,400 at 8% annual interest, leaving the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years, Newman withdraws the accumulated amount of money. HW9-CH6 Compute the amount Newman would withdraw assuming the investment earns simple interest. (Round answers to O decimal places, e.g. 458,581.) uestion 3 Total withdrawn ?uestion 5 Compute the amount Newman would withdraw assuming the investment earns interest compounded annually. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.) Total withdrawn s Compute the amount Newman would withdraw assuming the investment earns interest compounded semiannually. (Round factor values to 5 decimal places, e.g 1.25124 and final answer to 0 decimal places, e.g. 458,581.) Total withdrawn Question Attempts: 0 of 2 used SAVE FOR LATER SUBMIT ANSWER Version 4.24.5.1

Explanation / Answer

a) Total withdrawn = (53400*8%*8)+53400 = 87576

b) Total withdrawn = 53400*1.85093 = 98840

c) Total withdrawn = 53400*1.87298 = 100017

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