Since we're doing compound interest for four years it will be simpler than daily. In case you didn't know the formula, here it is: A = P (1 +r/n)^(nt) now lets substitute. A = 500 (1 + 0.03)^4 A = 500 (1.03)^4 A = 500 (1.12550881) A = 562.754405 Since that decimal is too big for cash, let's round it. Notice that the number after 5 is lower than 5. Thus the first two numbers stay the same and the final answer will be.. A = 562.75 Hope this helps :3
