Answer:
$6481.44
Step-by-step explanation:
The sum represented by A is the sum of a geometric sequence with first term ...
a1 = 100(1+0.03/360)^30 ≈ 100.2503023
and common ratio
r = (1+0.03/360)^30 ≈ 1.002503023
There are 60 terms total. The sum is ...
A = a1·(r^60 -1)/(r -1) = 100.2503023·(1.002503023^60 -1)/(0.002503023)
A = 100.2503023·64.65260100
A ≈ 6481.44 . . . . dollars
