On August 8, 1981, American Savings offered an insured tax-free account paying 23.24% compounded monthly. If you had invested $90,000 at that time, how much would you have on August 8, 2014, assuming that you could have locked the interest rate at the time of deposit? Use the formula A = P 1 + r n nt for n = 12. (Round your answer to the nearest cent.)

On August 8, 1981, American Savings offered an insured tax-free account paying 23.24% compounded monthly. If you had invested $90,000 at that time, how much would you have on August 8, 2014, assuming that you could have locked the interest rate at the time of deposit? Use the formula A = P 1 + r n nt for n = 12. (Round your answer to the nearest cent.)

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter5: Introduction To Business Expenses

Section: Chapter Questions

Problem 61P

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