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) You wish to have $17,750 in 12 years. How much should you invest now at 6% interest, compounded annually in order to have $17,750, 12 years from now? O $1,395.44 O $8,655.43 O $8,821.22 O $12,513.04
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) You wish to have $17,750 in 12 years. How much should you invest now at 6% interest, compounded annually in order to have $17,750, 12 years from now? O $1,395.44 O $8,655.43 O $8,821.22 O $12,513.04
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 8EA: You put $250 in the bank for S years at 12%. A. If interest is added at the end of the year, how...
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