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. The Davis's want to invest enough money today to be able to send their four-year old daughter to college when she reaches 18 years of age. They estimate they will need $80,000. How much must they invest today at 12% interest compounded semiannually in order to reach their goal?

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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. The Davis's want to invest enough money today to be able to send their four-year old daughter to college when she reaches 18 years of age. They estimate they will need $80,000. How much must they invest today at 12% interest compounded semiannually in order to reach their goal?

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