Final answer:
To find the future value with an interest rate of 3.25%, you can use the formula for simple or compound interest. If assuming simple interest on a $100 principal over 3 years, the future value would be $109.75.
Step-by-step explanation:
To find the future value at an interest rate, you can use the formula for either simple interest or compound interest depending on the scenario provided. Since the interest rate mentioned is 3.25, we'll need further information to apply the correct formula. However, here is an example using simple interest:
If the principal amount is $100 and the interest rate is 3.25% per year, to find the future value over 3 years, you would calculate it as follows if it's simple interest:
Total future amount (with simple interest) = Principal + (Principal × interest rate × time)
So, Total future amount (with simple interest) = $100 + ($100 × 0.0325 × 3) = $100 + $9.75 = $109.75
In case of compound interest, the formula differs as it takes into consideration that interest is calculated on the accumulated interest as well over the time period.