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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 $80,000 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 $80,000 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 A = P(1+5)* nt for n = 12. (Round your answer to the nearest cent.)

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