asked 44.0k views
2 votes
$559 at 3% for 3 years

asked
User Galoget
by
7.7k points

1 Answer

5 votes

Answer:

$610.83

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.

answered
User Mike Phils
by
8.1k points
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.