## Answers

We use the formula:

A=P(1+r/100)^n

where

A=future value

P=present value

r=rate of interest

n=time period.

Future value for A=1000*(1.07)^5

=$1402.55(Approx)

Future value for B=1000*(1.07)^8

=$1718.19(Approx)

Hence **For B;withdrawal is greater.**

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