Solution-What amount did jozy withdraw

What amount did jozy withdraw

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Question - Jozy Altidore invested $6,000 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, Jozy withdrew the accumulated amount of money.

(a) What amount did Jozy withdraw, assuming the investment earns simple interest?

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

Reference no: EM132139128

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What amount did jozy withdraw

Reference no: EM132139128

Reference no: EM132139128

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