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. Lane invests $7,000, at 7% interest, compounded annually for 22 years. Calculate the compound interest
for his investment.
A) $31,012.80
B) $8,753.25
C) $24,012.80
D) $15,655.23
C
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