



Expert Answer
a)
Total amount withdrawn = $37,700 + ($37,700*10%*10 years) = $37,700 + $37,700 = $75,400
b)
Total amount withdrawn = $37,700*1.10^{10} = $97,784.09
c)
Number of semiannual periods = 10 years * 2 = 20
Semiannual interest rate = 10%/2 = 5% = 0.05
Total amount withdrawn = $37,700*1.05^{20} = $100,029.32