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

Answer 1

r = .045/12 = .00375
number of periods = 12 *3.5 = 42 months

1.00375^42 = 1.170235983
times 250000 = 292,558