3 years ago

$559 at 3% for 3 years

Mathematics

1 answer:

algol133 years ago

6 0

Answer:

$610.83

Step-by-step explanation:

It's important that you include the instructions. I will help with this problem because it's pretty obvious that you want to find the compound amount.

The equation for that is

A = P(1 + r)^t, where r is the interest rate as a decimal fraction and t is the number of years.

Here,

P = $559(1 + 0.03)^3, or

P = $559(1.0927) = $610.83 is the compound amount.

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