# Finance

**Question description**

**(Simple and Compound Interest Computations)**

Lyle O 'Keefe invests $30,000 at 8% annual interest, leaving the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years, Lyle withdrew the accumulated amount of money.

(a) | Compute the amount Lyle would withdraw assuming the investment earns simple interest. |

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(b) | Compute the amount Lyle would withdraw assuming the investment earns interest compounded annually.(Round to 2 decimal places, e.g. 25,250.25. Hint: Use tables in text.) |

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(c) | Compute the amount Lyle would withdraw assuming the investment earns interest compounded semiannually.(Round to 2 decimal places, e.g. 25,250.25. Hint: Use tables in text.) |

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