Solution-What amount did randy withdraw

What amount did randy withdraw

Reference no: EM13512501

Randy Owen invested $8,000 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, Randy withdrew the accumulated amount of money.

(a) What amount did Randy withdraw, assuming the investment earns simple interest? (b) What amount did Randy withdraw, assuming the investment earns interest compounded annually?

Reference no: EM13512501

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What amount did randy withdraw

Reference no: EM13512501

Reference no: EM13512501

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