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

question 104

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. You wish to have $16,500 in 6 years. How much should you invest now at 9% interest, compounded annually in order to have $16,500, 6 years from now?

• A) $11,172.15
• B) $6,661.54
• C) $9,838.46
• D) $27,672.15

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