Morgan Jackson invests $48,800 at 8% annual interest, leaving the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years, Morgan withdraws the accumulated amount of money.
Compute the amount Morgan would withdraw assuming the investment earns simple interest. (Round answers to 0 decimal places, e.g. 458,581.)
Compute the amount Morgan would withdraw assuming the investment earns interest compounded annually. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)
Compute the amount Morgan would withdraw assuming the investment earns interest compounded semiannually. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)