Leon Jackson invests $48,800 at 8% annual interest, leaving the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years, Leon withdraws the accumulated amount of money.
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Compute the amount Leon would withdraw assuming the investment earns simple interest. (Round answers to 0 decimal places, e.g. 458,581.)
Total withdrawn |
$enter total withdrawn in dollars rounded to 0 decimal places |
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New attempt is in progress. Some of the new entries may impact the last attempt grading.Your answer is incorrect.
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Compute the amount Leon 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Total withdrawn |
$enter total withdrawn in dollars rounded to 0 decimal places |
New attempt is in progress. Some of the new entries may impact the last attempt grading.Your answer is incorrect.
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Compute the amount Leon 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Total withdrawn |
$enter total withdrawn in dollars rounded to 0 decimal places |
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Solution 1:
Total withdrawn amount = Principal + Interest = $48,800 + $48,800*8%8* = $80,032
Solution 2:
Interest rate = 8 %
Nos of periods = 8 years
Amount withdrawn = $48,800 * (1+0.08)^8 = $48,800*1.85093 = $90,325
Solution 3:
Interest rate = 8 %, 4% semiannual
Nos of periods = 8 years, 16 semiannual period
Amount withdrawn = $48,800 * (1+0.04)^16 = $48,800*1.87298 = $91,401
Leon Jackson invests $48,800 at 8% annual interest, leaving the money invested without withdrawing any of...
Exercise 6-2
Leon Jackson invests $44,300 at 8% annual interest, leaving the
money invested without withdrawing any of the interest for 8 years.
At the end of the 8 years, Leon withdraws the accumulated amount of
money.
Compute the amount Leon would withdraw assuming the investment
earns simple interest. (Round answers to 0 decimal
places, e.g. 458,581.)
Total withdrawn
$enter total withdrawn in dollars rounded to 0 decimal places
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Tony Jackson invests $58,800 at 10% annual interest, leaving the money invested without withdrawing any of the interest for 10 years. At the end of the 10 years, Tony withdraws the accumulated amount of money. Compute the amount Tony would withdraw assuming the investment earns simple interest. (Round answers to 0 decimal places, e.g. 458,581.) Total withdrawn s e Textbook and Media Click here to view factor tables Compute the amount Tony would withdraw assuming the investment earns interest compounded...
Chris Jackson invests $30,700 at 8% annual interest, leaving the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years. Chris withdraws the accumulated amount of money. (a) * Your answer is incorrect. Compute the amount Chris would withdraw assuming the investment earns simple interest. (Round answers to decimal places, eg. 458,581) Total withdrawn $ 19648 eTextbook and Media Save for Later Attempts: 1 of 15 used Submit Answer (b) Click here...
Exercise 6-2 Chris 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, Chris withdraws the accumulated amount of money. Compute the amount Chris would withdraw assuming the investment earns simple interest. (Round answers to decimal places, e.g. 458,581.) Total withdrawn LINK TO TEXT LINK TO TEXT Click here to view factor tables Compute the amount Chris would withdraw assuming the investment earns...
if you could solve and show work with financial calculator
please!
Henry Jackson invests $58,700 at 8% annual interest, leaving the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years, Henry withdraws the accumulated amount of money. Compute the amount Henry would withdraw assuming the investment earns simple interest. (Round answers to O decimal places, e.g. 458,581.) Total withdrawns LINK TO TEXT LINK TO TEXT LINK TO VIDEO Click here to...
If you could show inputs for financial calculator please!
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Exercise 6-2 Henry Jackson invests $58,700 at 8% annual interest, leaving the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years, Henry withdraws the accumulated amount of money. Compute the amount Henry would withdraw assuming the investment earns simple interest. (Round answers to O decimal places, e.g. 458,581.) Total withdrawn LINK TO TEXT LINK TO...
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