ACCTNL INTERMEDIATE ACCOUNTING I
WEEK HOMEWORK ASSIGNMENT
Homework Assignment due Monday, February
ELO Simple and Compound Interest Computations Alan Jackson invests $ at annual interest, leaving the money invested without withdrawing any of the interest for years. At the end of the years, Alan withdraws the accumulated amount of money.
Instructions:
a Compute the amount Alan would withdraw assuming the investment earns simple interest.
tableAnnual interest,$Number of years,Simple interest,PrincipalTotal withdrawn,$
b Compute the amount Alan would withdraw assuming the investment earns interest compounded annually.
tableFuture value of @ for periods,,Principal$Total withdrawn,$
use Table
c Compute the amount Alan would withdraw assuming the investment earns interest compounded semiannually.
tableFuture value of @ for periods,,Principal$Total withdrawn,$
use Table pg
