Answer:
SEE BELOW PLEASE GIVE BRAINLIEST
Step-by-step explanation:
YEAR 1: 40000 X .03 = 1200 40,000 + 1200 = 41200
YEAR 2: 41,200 X .03 = 1236 41,200 + 1236 = 42436
YEAR 3: 42436 X .03 = 1273.08 42436 + 1273.08 = 43709.08
YEAR 4: 43709.08 x .03 = 1311.27 43709.08 + 1311.27 = 45020.35
YEAR 5: 45020.35 X .03 = 1350.61 45020.35 + 1350.61 = 46370.96
YEAR 6: 46370.96 X .03 = 1391.13 46370.96 + 1391.13 = 47762.09
YEAR 7: 47762.09 X .03 = 1432.86 47762.09 + 1432.86 = 49194.95
YEAR 8: 49194.95 X .03 = 1475.85 49194.95 + 1475.85 = 50670.80
YEAR 9: 50670.80 X .03 = 1520.12 50670.80 + 1520.12 = 52190.92
YEAR 10: 52190.92 X .03 = 1565.73 52190.92 + 1565.73 = 53756.65
YEAR 11: 53756.65 X .03 = 1612.70 53756.65 + 1612.70 = 55369.35
YEAR 12: 55369.35 X .03 = 1661.08 55369.35 + 1661.08 = 57030.43
YEAR 13: 57030.43 X .03 = 1710.91 57030.43 + 1710.91 = 58741.34
YEAR 14: 58741.34 X .03 = 1762.24 58741.34 + 1762.24 = 60503.58
YEAR 15: 60503.58 X .03 = 1815.11 60503.58 + 1815.11 = 62318.69
YEAR 16: 62318.69 X .03 = 1869.56 62318.69 + 1869.56 = $64,188.25 = $64188
