The FernRod Motorcycle Company invested $150,000 at 4.5% compounded monthly to be used for the expansion of their manufacturing facilities. How much money will be available for the project in 5 years? (Round your answer to the nearest dollar.) 15/1/201

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 6RE: Hsu-Mei wants to save 5,000 for a down paymenton a car. To the nearest dollar, how much will sheneed...
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The FernRod Motorcycle Company invested $150,000 at 4.5% compounded monthly to be used for the expansion of their manufacturing
facilities. How much money will be available for the project in 5- years? (Round your answer to the nearest dollar.)
2
1
Transcribed Image Text:The FernRod Motorcycle Company invested $150,000 at 4.5% compounded monthly to be used for the expansion of their manufacturing facilities. How much money will be available for the project in 5- years? (Round your answer to the nearest dollar.) 2 1
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