-Karla Simpson invested $15,000 at 10% annual interest and left the money invested without withdrawing any of the interest for 15 years. At the end of the 15 years, Karla decided to withdraw the accumulated amount of money. Karla has found the following values in various tables related to the time value of money. Which factor would she use to compute the amount she would withdraw, assuming that the investment earns interest compounded annually?
A) 0.23939
B) 4.17725
C) 7.60608
D) 31.77248

Question

-Karla Simpson invested $15,000 at 10% annual interest and left the money invested without withdrawing any of the interest for 15 years. At the end of the 15 years, Karla decided to withdraw the accumulated amount of money. Karla has found the following values in various tables related to the time value of money.  Which factor would she use to compute the amount she would withdraw, assuming that the investment earns interest compounded annually?
A) 0.23939 
B) 4.17725 
C) 7.60608 
D) 31.77248

Quizplus · Accepted Answer

The Answer of 
-Karla Simpson invested $15,000 at 10% annual interest and left the money invested without withdrawing any of the interest for 15 years. At the end of the 15 years, Karla decided to withdraw the accumulated amount of money. Karla has found the following values in various tables related to the time value of money.  Which factor would she use to compute the amount she would withdraw, assuming that the investment earns interest compounded annually?
A) 0.23939 
B) 4.17725 
C) 7.60608 
D) 31.77248

-Karla Simpson Invested $15,000 at 10% Annual Interest and Left