# SOLUTION: Solve the problem. If \$1250 is invested at a rate of 8% compounded monthly, what is the balance after 10 years? [A = P(1 + i)n]

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 Click here to see ALL problems on Money Word Problems Question 314329: Solve the problem. If \$1250 is invested at a rate of 8% compounded monthly, what is the balance after 10 years? [A = P(1 + i)n] Answer by rfer(12731)   (Show Source): You can put this solution on YOUR website!A=P(1+r/n)^n*t A=1250(1+.08/12)^12*10 A=1250(1.00667)^120 A=1250*2.22 A=\$2775