Step-by-step explanation:
step 1. let's call the balance A, the initial amount P, the yearly rate r, the number of compounds yearly n, and the time t.
step 2. A = P(1 + r/n)^(nt) (compounding equation)
step 3. A = 8500(1 + .0178/12)^((12)(10))
step 4. A = 8500(1.00148334)^120
step 5. A = $10,154.68.
