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Use Tables 12-1 and 12-2 from Your Text to Answer

Question 111

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Use Tables 12-1 and 12-2 from your text to answer the following problems. (Round dollars to the nearest cent)
-Refer to Narrative in your text 12-1. Strong Hardware Company has decided to save for a future expansion to a second location. They invest $2,800 at the END of every month at 12% interest compounded monthly.
A)How much will be available for the second location after 2 years?
B)How much more will be available after 3 years?

Correct Answer:

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a.$75,525....

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