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On August 8, 1981, American Savings offered an insured tax-free account paying 23.24% compounded monthly. If you had invested $10,000 at that time, how much

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On August 8, 1981, American Savings offered an insured tax-free account paying 23.24% compounded monthly. If you had invested $10,000 at that time, how much would you have on August 8, 2014, assuming that you could have locked the interest rate at the time of deposit? Use the formula nt A = P(1+5) = for n = 12. (Round your answer to the nearest cent.)

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