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Date: Course: Name: Instructor: Intermediate Accounting Primer on Using Excel in Accounting E6-2 (Simple and Compound Interest Computations) Alan Jackson invests$20000 8%-annual interest, leaving the money 8 tears. At the years, Alan withdrew the accumulated amount of money | at end of the 8 Instructions Text Title Text Title Formula Amount Formula Text Title (b) Compute the amount Alan would withdraw assuming the investment earns interest compounded annua Text Title Text Title ormula Amount Text Title (c) Compute the amount Alan would withdraw assuming the investment earns interest compounded Formula Amount Formula Text Title
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a. amount $20,000 3 Rate of interest 4 Number of vears 5 Simple interest earned 8% $12,800 S32,800 7 Amount withdrawn after 8 vears 10 11 Rate of interest 12 Number of years 13 14 Amount withdrawn after 8 vears 15 16 c 17 18 Semiannual rate of interest 19 Semiannual 20 21 Amount withdrawn after 8 vears $20,000 8% S37,019 amount $20,000 4% 16 S37,460Calculations are shown below: a. 20000 0.08 3 Rate of interest 4 Number of vears 5 Simple interest earned B2*B3*B4 7 Amount withdrawn after 8 vears B2+B5 10 11 Rate of interest 12 Number of years 13 14 Amount withdrawn after 8 years 15 16 c 20000 0.08 B10 ((1+B11) B12) 20000 8%/2 amount 18 Semiannual rate of interest 20 21 Amount withdrawn after 8 years B17*(1+B18)AB19)

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