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 compound interest on an investment of $28,000 at 4% interest, compounded quarterly, for
2.5 years.
A) $2,299.42
B) $2,942.29
C) $2,929.36
D) $2,992.42
C
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