As a fringe benefit for the past 12 years, Colin's employer has contributed $50 at the end of each month into an employee retirement account for Colin that pays interest at the rate of 7%/year compounded monthly. Colin has also contributed $1,500 at the end of each of the last 6 years into an IRA that pays interest at the rate of 8%/year compounded yearly. How much does Colin have in his retirement fund at this time? Please round the answer to the nearest cent.

$ __________


22,238.64

Mathematics

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C. 5x - 4
D.

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Determine whether the statement is a proportion.  

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Identify the numerator and the denominator of the fraction.

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Denominator 7
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Denominator 2
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Denominator 1
D. Numerator  
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Mathematics