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Sagot :
The amount of money in the account after 10 years is $278,814.10.
What will be the value of the account after 10 years?
The first step is to determine the amount she has left to invest.
Amount invested = amount won - amount spent on vacation
$250,000 - $10,000 = $240,000
The second step is to determine the future value of the account. The formula for calculating future value:
FV = P (1 + r)^nm
- FV = Future value
- P = Present value
- R = interest rate = 1/5/12 = 0.125%
- m = number of compounding =12
- N = number of years
240,000 x 1.00125^(12 x10) = $278,814.10
To learn more about future value, please check: https://brainly.com/question/18760477
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