Question - Adams Jackson invests $53,400 at 8% annual interest, leaving the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years, Adams withdraws the accumulated amount of money.
Compute the amount Adams would withdraw assuming the investment earns simple interest.
Compute the amount Adams would withdraw assuming the investment earns interest compounded annually.
Compute the amount Adams would withdraw assuming the investment earns interest compounded semiannually.