Question

A $6,300.00 principle earns 6% interest, compounded annually. After 3 years, what is the balance in the amount?

A. $1,360,800.00
B. $7,503.40
C. $7,434.00
D. $25,804.80

Answer 1

I believe that the answer would be option B- $7,503.40

I hope this helps!

Answer 2

heres your answer amount = 6300(1.06)^3
= 7503.40