Answer:
Option B - $3623.85
Step-by-step explanation:
Given : Jeff invested $3000 in an account that earns 6.5% interest, compounded annually. The formula for compound interest is
.
To find :
How much did Jeff have in the account after 3 years ?
Solution :
The formula for compound interest is
.
Where A is the amount
P is the principal = $3000
I is the interest = 6.5%=0.065
t is the time = 3 years
Substitute in the formula,




Therefore, Option B is correct.
The amount Jeff have in the account is $3623.85