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. Sergio Comas is planning a skiing vacation in Switzerland in three years. He estimates he will need $3,000 for the trip. His bank is offering 3-year certificates of deposit with 12% interest compounded quarterly.
A)How much must Sergio invest now in order to have the money for the trip?
B)How much compound interest will Sergio have earned on his investment?

Question

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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. Sergio Comas is planning a skiing vacation in Switzerland in three years. He estimates he will need $3,000 for the trip. His bank is offering 3-year certificates of deposit with 12% interest compounded quarterly.
A)How much must Sergio invest now in order to have the money for the trip?
B)How much compound interest will Sergio have earned on his investment?

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