Narrative 11-1
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 11-1. You wish to have $12,500 in 12 years. Find how much you should invest now at 12% interest, compounded quarterly in order to have $12,500, 12 years from now.
A) $7,000.00
B) $3,025.00
C) $3,208.50
D) $6,623.25

Question

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The Answer of Narrative 11-1
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 11-1. You wish to have $12,500 in 12 years. Find how much you should invest now at 12% interest, compounded quarterly in order to have $12,500, 12 years from now.
A) $7,000.00
B) $3,025.00
C) $3,208.50
D) $6,623.25

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