Problem
The cement cost index changed from 630 to 654 from the end of 2014 to the end of 2015. You could buy 100 pallets of cement for $200,000 at the end of 2014. How much money did you have to put into an account gaining 2% interest, compounded monthly, at the end of 2014 to be able to buy the same amount of cement at the end of 2015?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.