Question

What is the final balance for the investment? $1500 for 3 years at 10% compounded annually    A.

$1625.00    B. $1875.00    C. $1996.50    D. $2110.50

Answer 1

`the\ final\ balance:\\ \\FB=1500\cdot(1+ (10)/(100) )^3=1500\cdot(1,1)^3=1500\cdot1.331=1,996.50\ [\$]\\ \\Ans.\ C`