Question

What is the final balance for the investment? $1500 for 3 years at 10% compounded annually  A.$1625.00  B.$1875.00  C.$1996.50  D.$2110.50

Answer 1

$the\ final\ balance:\\ \\FB=1500\cdot(1+ \frac{10}{100} )^3=1500\cdot(1,1)^3=1500\cdot1.331=1,996.50\ [\ ]\\ \\Ans.\ C$