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)
-Suppose you wish to have $5,500 in 18 years. Use the present value formula to find how much you should invest now at 6% interest, compounded annually in order to have $5,500, 18 years from now.

Question

Quizplus · Accepted Answer

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)
-Suppose you wish to have $5,500 in 18 years. Use the present value formula to find how much you should invest now at 6% interest, compounded annually in order to have $5,500, 18 years from now.

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