Question

$3,200 deposit earning 4.5% compounded​ monthly, after 3 years.

Answer 1

A = $3661.59

I = 461.593

Explanation:

1. Use the CI formula. (Reference in file.)

2. Solve equation after plugging the given information we have.

3. We will have the Amount after solving the equation.

4. To find interest we use formula A=P+I

Source - TutorEye