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. Sam wants to have $14,000 in 4 years. Calculate how much he should invest now at 6% interest, compounded monthly in order to reach this goal.
A) $13,612.84
B) $13,458.64
C) $10,541.36
D) $11,019.54

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. Sam wants to have $14,000 in 4 years. Calculate how much he should invest now at 6% interest, compounded monthly in order to reach this goal.
A) $13,612.84
B) $13,458.64
C) $10,541.36
D) $11,019.54

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