Question 806687
You were almost close to the right answer but you should found the amount of $1 at 11% for 8yrs nd then multiply by $4,900
Solution
Using A=(1+interest)^n
Amount of $1 =(1+0.11)^8yrs
     A=2.30453777
Therefore..2.30453777*4,900
Amount of investment will be 11,292
                = $112.9