# Jenny Carson invested $18,000

*label*Accounting

*timer*Asked: Dec 3rd, 2015

**Question description**

Jenny Carson invested $18,000 at 8% annual interest and left the money invested without withdrawing any of the interest for 15 years. At the end of the 15 years, Jenny decided to withdraw the accumulated amount of money. Jenny has found the following values in various tables related to the time value of money.Present value of 1 for 15 periods at 8%0.31524Future value of 1 for 15 periods at 8%3.17217Present value of an annuity of 1 for 15 periods at 8%8.55948Future value of an annuity of 1 for 15 periods at 8%27.15211To the closest dollar, which amount would she withdraw, assuming that the investment earns interest compounded annually?