Narrative 11-1 Solve the Following Problems Using Either Tables 11-1 or 11-2

question 71

Multiple Choice

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 in your text 11-1. Roby invests $18,700, at 8% interest, compounded quarterly for 8 years. Calculate the compound amount for his investment.

• A) $35,241.09
• B) $25,671.17
• C) $65,600.54
• D) $64,065.08

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Definitions:

Commercial

Pertaining to commerce or business, often relating to advertising or the buying and selling of goods and services.

Social Significance

The impact or importance of a phenomenon, event, or trend in terms of its influence on societal norms, values, or behaviors.

Stories

Narratives or accounts of a series of events, real or imaginary, told for entertainment or educational purposes.

Arranged

Organized or planned in a specific order or manner.