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 $
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- TO DO: Answer the questions below related to if simple interest versus compound interest were at play. Willie invested $6,000 at 5% annual interest, and left the money invested without withdrawing any of the interest for 12 years. At the end of the 12 years, Willie withdrew the accumulated amount of money. (a) What amount did Willie withdraw, assuming the investment earns simple interest? (b) What amount did Willie withdraw, assuming the investment earns interest compounded annually? Megan Company earns 6% on an investment that will return $450,000 8 years from now. What is the amount Megan should invest now, assuming the 6% will be constant, to have $450,000 in 8 years? TIP: The present value formula will be easiest (if that formula makes sense). You can also use the future value and "play" with numbers to see what makes it work. Finally, you could also set up a small spreadsheet to use numbers to get the desired math to work. Reach out if you are struggling.John Bryant invests $45,000 at 9% annual interest, leaving the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years, John withdraws the accumulated amount of money. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) Click here to view the factor table. (a) Compute the amount John would withdraw assuming the investment earns simple interest. (Round answer to 0 decimal places, e.g. 458,581.) Total withdrawn %24Alan Jackson invests $20,000 at 8% annual interest, leaving the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years, Alan withdraws the accumulated amount of money. Instructions a. Compute the amount Alan would withdraw assuming the investment earns simple interest. b. Compute the amount Alan would withdraw assuming the investment earns interest compounded annually. c. Compute the amount Alan would withdraw assuming the investment earns interest compounded semiannually.
- Steven Jackson invests $57,000 at 10% annual interest, leaving the money invested without withdrawing any of the interest for 10 years. At the end of the 10 years, Steven withdraws the accumulated amount of money. (a) Compute the amount Steven would withdraw assuming the investment earns simple interest.(b) Compute the amount Steven would withdraw assuming the investment earns interest compounded annually.(c) Compute the amount Steven would withdraw assuming the investment earns interest compounded semiannually.Ruth Altidore invested $6,000 at 11% annual interest, and left the money invested without withdrawing any of the interest for 14 years. At the end of the 14 years, Ruth 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 Ruth withdraw, assuming the investment earns simple interest? The amount Ruth withdrew (b) What amount did Ruth withdraw, assuming the investment earns interest compounded annually? (Round answer to 2 decimal places, e.g. 25.25.) The amount Ruth withdrew $ %24David Jackson invests $40,200 at 8% annual interest, leaving the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years, David withdraws the accumulated amount of money. Compute the amount David would withdraw assuming the investment earns simple interest.
- Tony invests $9,300 at 8% annual interest, leaving the money invested without withdrawing any of the interest for 10 years. At the end of the 10 years, Tony will withdraw the accumulated amount of money. Click here to view factor tables (a) Compute the amount Tony would withdraw assuming the investment earns simple interest. Total withdrawn eTextbook and Media Save for Later Attempts: 0 of 3 used Submit AnswerIf Mike deposited and withdrew as shown below, how much can he withdraw at the end of 5th year? Assume i=4%. If it is a deposit, then enter the value as a negative number and if it is a withdrawal, then enter the value as a positive number. n 0 1 2 3 4 5 CF 0 -500 -400 500 -500 -500 If the answer is a dollar value then enter the number without any comma, without $sign, without any gap, and with 2 decimal digits, for example, -5896547.12 4 If the answer is a % then enter the number with 3 decimal digits followed by a % sign without any gap, for example 3.123% or 4.210%Justin P. deposited $2000 into an account 5 years ago. Simple interest was paid on the account. He has just withdrawn $2876. What interest rate did he earn on the account?
- (Simple and Compound Interest Computations) Alan Jackson invests $20,000 at 8% annual interest, leaving the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years, Alan withdraws the accumulated amount of money.Instructions(a) Compute the amount Alan would withdraw assuming the investment earns simple interest.(b) Compute the amount Alan would withdraw assuming the investment earns interest compounded annually.(c) Compute the amount Alan would withdraw assuming the investment earns interest compounded semiannually.3. Instead assume that A finds out that he is terminally ill and has about 2 years to live. A sells his insurance contract to B for $500,000. A has made payments of $100,000 over his lifetime to the insurance company for the policy. Upon A's death B collects $750,000. Do either A or B have any gross income from this transaction and if so, how much. 4. A has $100,000 of short term capital gains recognized throughout the year. A is advised that because of a peculiarity in the tax law A can enter into a transaction that creates $100,000 of short-term capital losses and $95,000 of long term capital gains. Should A enter into this transaction? 5. A and B have a son, C, that lives with them for the entire year. C earns $15,000 and pays $12,000 towards his living expenses during the year. A and B incur $20,000 of expenses to support C during the year. Will A and B be entitled to claim C as a dependent on their joint tax return for the year. If so, why, if not why not?Supposed 30 years ago your mother deposited $1,400 in an investment account earning 6.0% per year. After 9 years she withdrew $434. There were no additional deposits or withdrawals from the account. Obtain today's value of the investment account.