Answer:
About 0.3 billion dollars
Step-by-step explanation:
5 years = 60 months.
The 150 of the first month will be 150*1.07^60 in 5 years.
The 150 of the second month will be 150*1.07^59 in 5 years.
The 150 of the third month will be 150*1.07^58 in 5 years.
And so forth.
So we sum that up:
( sum_(n=1)^(60) 150×1.07^n)
And multiply with
× 1.07^(5×23)
to account for the increase in value in the following 23 years.
