Ken Corsig Invested $20,000 at 8% Annual Interest and Left

question 53

Multiple Choice

Ken Corsig invested $20,000 at 8% annual interest and left the money invested without withdrawing any of the interest for 15 years. At the end of the 15 years, Ken withdrew the accumulated amount of money. What amount did Ken withdraw, assuming the investment earns simple interest?

• A) $25,600
• B) $44,000
• C) $30,000
• D) $24,000

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