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 11-2. Leaflet Printing will need $85,000 in 6 years to replace one of their presses. They can invest in Bergen County Bank at 10% interest compounded semiannually, or at State Bank at 8% interest compounded quarterly. a. At which bank will they earn the greatest amount of compound interest? b. How much less must they invest today at this bank to reach their goal of $85,000 in 6 years?


a. Bergen
b. $5,514.80

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Fill in the blank(s) with the appropriate word(s).

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