Question

$1,000 after 2 years at an interest rate of 3.0% is round up to the nearest cent

Answer 1

After two years with the interest compounded annually the amount would be $1,060.90.

After two years with the interest compounded monthly the amount would be $1,061.76.

After two years with the interest compounded quarterly the amount would be $1,061.60.

After two years with the interest compounded semiannually the amount would be $1,061.36.