Question

$2,00 after. 3 years at an interest rate of 2.5% is$round up to the nearest cent

Answer 1

To answer the question, I assume that the interest (i) is compounded. To solve for the future worth (F) of the present investment (P) is calculated by the equation,
F = P x (1 + i)^n
where n is the number of years. Substituting the known values,
F = ($2000) x (1 + 0.025)^3 = $2,153.78
Thus, the answer is approximately $2,153.8.