Answer:
$ 142 375
Explanation:
Thinking process:
Let the composite rate be given by the formula:
[tex]A = P (1+\frac{r}{n})^{nt}[/tex]
where
A = amount after interest
[tex]\frac{r}{n}[/tex] = interest rate
t = time
n = number of times (per year)
Therefore, this gives:
[tex]A =134 000 (1+\frac{0.75}{12})^{1}\\ = $ 142 375[/tex]
