The above answer will be calculated as -
We are given -
600 ( 1 + 0.03)^12
We will first add - 1 + 0.03 = 1.03
Now, we will multiply 1.03 into 12 times, in order to find the value of ( 1.03)^12
The answer for ( 1.03)^12 = 1.4268
Now, we will multiply 1.4268 with 600
600 × 1.4268 = 856.08 approximately.
Thus, the value of 600*(1.03)^12 has been calculated.