Question 1195633
P=m((1+(r/n))^nt-1/(r/n); r/n=.07/12; nt=12*3=36
P=150(1.00583333)^36-1/0.00583333
round only at end
=$5989.52
now for that over the next 25 years, use P=5989.52(1.0058333333)^300
=$34,392.50 is the answer.
rough check:
rule of 70 says double in 10 years.
25 years is two doublings and more. but not 3.
Two doublings is almost $24,000. Three would be $48,000. This answer is reasonable.