AC 302 CHAPTER 6 QUESTION 2

AC 302 CHAPTER 6 QUESTION 2
Name			Date	
Instructor				Course		
Intermediate Accounting 14th Edition by Kieso Weygandt and Warfield						
Primer on Using Excel in Accounting by Rex A Schildhouse						
						
E6-2 (Simple and Compound Interest Computations) Lyle O’Keefe invests						$30,000 
at	8%	annual interest, leaving the money			8 	years. At the 
end of the	8 	years, Lyle withdrew the accumulated amount of money.				
						
Instructions:						
(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."						
						
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"(c) Compute the amount Lyle would withdraw assuming the investment earns interest compounded
     semi-annually."						
						
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