John Bryant invests $45,000 at 9% annual interest, leaving the money invested without withdrawing any of the interest for 8 years. Atthe end of the 8 years, John withdraws the accumulated amount of money. (For calculation purposes, use 5 decimal places as displayed inthe 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 (Round answer to 0 decimal places, e.g.458,581.)Total withdrawn%24

Given, Principal amount (P) = $45,000 Rate of interest (r) = 9% Number of years (t) = 8 years

Answered: John Bryant invests $45,000 at 9%…

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter19: Capital Investment

Section: Chapter Questions

Problem 8E

See similar textbooks

Similar questions

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.
David 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 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.)
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. Compute the amount Chris 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.)
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.
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. Compute the amount John would withdraw assuming the investment earns interest compounded semiannually.
David 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.
Margaret M. withdrew $630,315 from an account into which she had invested $350,000. If the account paid interest at 4% per year, she kept the money in the account for how many years?
Ms. Walsh invested $35,000 in two accounts. one yielding 8% interest and the other yielding 9%. if she received a total of $3,000 in interest at the end of the year, how much did she invest in each account? the amount invested at 8% was $ the amount invested at 9% was $

Recommended textbooks for you

Cornerstones of Cost Management (Cornerstones Ser…

Accounting

ISBN:

9781305970663

Author:

Don R. Hansen, Maryanne M. Mowen

Publisher:

Cengage Learning

SWFT Comprehensive Vol 2020

Accounting

ISBN:

9780357391723

Author:

Maloney

Publisher:

Cengage

SWFT Comprehensive Volume 2019

Accounting

ISBN:

9780357233306

Author:

Maloney

Publisher:

Cengage

Cornerstones of Cost Management (Cornerstones Ser…

Accounting

ISBN:

9781305970663

Author:

Don R. Hansen, Maryanne M. Mowen

Publisher:

Cengage Learning

SWFT Comprehensive Vol 2020

Accounting

ISBN:

9780357391723

Author:

Maloney

Publisher:

Cengage

SWFT Comprehensive Volume 2019

Accounting

ISBN:

9780357233306

Author:

Maloney

Publisher:

Cengage

SWFT Individual Income Taxes

Accounting

ISBN:

9780357391365

Author:

YOUNG

Publisher:

Cengage

EBK CONTEMPORARY FINANCIAL MANAGEMENT

Finance

ISBN:

9781337514835

Author:

MOYER

Publisher:

CENGAGE LEARNING - CONSIGNMENT

SWFT Essntl Tax Individ/Bus Entities 2020

Accounting

ISBN:

9780357391266

Author:

Nellen

Publisher:

Cengage

SEE MORE TEXTBOOKS