Solve the following problem using either Table 11-1 or Table 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) Leonora wants to have $17,750 in 1 year. Calculate how much she should invest now at 9% interest, compounded semiannually in order to reach this goal. O $8,142.20 O $16,227.76 O $16,254.21 O $16,985.69
Solve the following problem using either Table 11-1 or Table 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) Leonora wants to have $17,750 in 1 year. Calculate how much she should invest now at 9% interest, compounded semiannually in order to reach this goal. O $8,142.20 O $16,227.76 O $16,254.21 O $16,985.69
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 35P
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