In order to purchase a piece of scientific equipment within the next 16 months, in time for a large project planned, the current profit, $241,488 from sample analyses conducted by your laboratory this month must be allocated to high interest investments.

If this principal is invested at a rate of 6.8% compounded once a month, what is the value of this investment, to the nearest dollar, after 16 months?

apsiganocj Jul 16, 2021