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) Suppose you wish to have $16,500 in 2 years. Use the present value formula to find how much you should invest now at 8% interest,
compounded semiannually in order to have $16,500, 2 years from now. Then calculate the amount of interest.
A) $2,395.73
B) $2,353.89
C) $14,104.27
D) $14,146.11
A
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