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. Lennon wants to set aside $100,000 for his daughter's wedding when she turns 21 years of age. She is 11 years old today. If he can earn 6% compounded monthly on his money, how much money must he set aside today to have enough for the wedding day? (Use the factors 20, 20, 20, 20, 20, and 20 periods)

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)
-Refer to Narrative in your text 11-2. Lennon wants to set aside $100,000 for his daughter's wedding when she turns 21 years of age. She is 11 years old today. If he can earn 6% compounded monthly on his money, how much money must he set aside today to have enough for the wedding day? (Use the factors 20, 20, 20, 20, 20, and 20 periods)

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