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 11-1. Francis wants to have $22,000 in 10 years. Calculate how much he should invest now at 8% interest,
compounded quarterly in order to reach this goal.
A) $9,963.58
B) $6,143.45
C) $8,000.00
D) $6,270.47
A
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