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. Calculate the annual percentage yield on an investment of $7,000 at 8% interest, compounded quarterly,
for one year. (Round the annual percentage yield to the nearest hundredth percent)
A) 24.73%
B) 8.00%
C) 7.75%
D) 8.24%
D
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