helppppp math helppp!

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the fernrod motorcycle company invested 250,000 at 4.5% compounded monthly to be used for the expansion of their manufacturing facilities. how much money will be aviable for the project 3.5 years?

• helppppp math helppp! -

Future value, F
Interest, i = 0.045
compounding frequency, f = 12
Time, t = 3.5 years
Let
P = present value, = 250000
then use the compound interest formula
F=P(1+i/f)ft

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