Narrative 11-2
Solve the following problems using either Tables 11-1 or 11-2 from your text. When necessary, create new table factors. (Round new table factors to five decimal places, round dollars to the nearest cent and percents to the nearest hundredth of a percent)
-Refer to Narrative in your text 11-2. Calculate the annual percentage yield (APY) on an investment of $2,500 at 12% interest, compounded semimonthly for 1 year. (Round to nearest hundredth percent)

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The Answer of Narrative 11-2
Solve the following problems using either Tables 11-1 or 11-2 from your text. When necessary, create new table factors. (Round new table factors to five decimal places, round dollars to the nearest cent and percents to the nearest hundredth of a percent)
-Refer to Narrative in your text 11-2. Calculate the annual percentage yield (APY) on an investment of $2,500 at 12% interest, compounded semimonthly for 1 year. (Round to nearest hundredth percent)

Narrative 11-2 Solve the Following Problems Using Either Tables 11-1 or 11-2