The following investments require table factors for periods beyond the table. Create the new table factor, rounded to five places, and calculate the compound amount for each. Principal Time Nominal Interest New Table Compound Period (years) Rate (%) Compounded Factor Amount _________________________________________________________________________ $13,000 3 12 monthly 1.43077 $18,600.01 ________ __________

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Contemporary Mathematics for Busin...

8th Edition

Robert Brechner + 1 other

Publisher: Cengage Learning

ISBN: 9781305585447

Chapter 11.I, Problem 19RE

Textbook Problem

The following investments require table factors for periods beyond the table. Create the new table factor, rounded to five places, and calculate the compound amount for each.

Principal Time Nominal Interest New Table Compound

Period (years) Rate (%) Compounded Factor Amount

_______________________________________________________________

$13,000 3 12 monthly 1.43077 $18,600.01

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Ch. 11.I - Gail Parker invested $10,000 at 6% interest...Ch. 11.I - Jenny Chao invested $20,000 at 6% interest...Ch. 11.I - Stan Gray invests $3,500 at 8% interest compounded...Ch. 11.I - Jill Quinn invested $7,000 in a certificate of...Ch. 11.I - Use the compound interest formula to calculate the...Ch. 11.I - For the following investments, find the total...Ch. 11.I - For the following investments, find the total...Ch. 11.I - For the following investments, find the total...Ch. 11.I - For the following investments, find the total...Ch. 11.I - For the following investments, find the total...

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