SOLUTION: Suppose $150,000 is invested in an account that pays 6.75% annual interest, compounded monthly.
if no money is deposited or withdrawn, what will the balance be after 10 years?
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Question 413368: Suppose $150,000 is invested in an account that pays 6.75% annual interest, compounded monthly.
if no money is deposited or withdrawn, what will the balance be after 10 years?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
A=150000(1+0.0675/12)^12*10
A=150000(1.005625)^120
A=150000*1.96
A=294,000
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