To determine the compound amount of an investment of $10,000 with an interest rate of 6% compounded monthly after 4 years requires you to use a table factor that goes beyond the Compound Interest Table. Calculate the new table factor for this investment.

Answer 1

Calculate the compound amount. Use the compound amount formula and a calculator. (Round your answer to two decimal places.)
P = $8100, r = 3% compounded monthly, t = 10 years