Answer:
The company will have $311,424 in its investment set-aside account.
Explanation:
To determine the amount of money that the company will have after 7 years with an interest rate of 11% per year, we must calculate the price to start with an increase of 11%, and then repeat the operation until reaching seven years:
Year 0: 150,000
Year 1: 150,000 x 1.11 = 166,500
Year 2: 166,000 x 1.11 = 184,815
Year 3: 184,815 x 1.11 = 205,144.65
Year 4: 205,144.65 x 1.11 = 227,710.56
Year 5: 227,710.56 x 1.11 = 252,758.72
Year 6: 252,758.72 x 1.11 = 280,562.18
Year 7: 280,562.18 x 1.11 = 311,424