Answer:
$1910.1744
Explanation:
To start we have to calculate how much the total will give us in one year, for this we divide the number by 100 and multiply it by 102, so we will get that 2% in one year
(1800 / 100) * (100 + 2) =
18 * 102
1836
Now we will repeat the procedure but instead of using the 1800 we will use the 1836 which will be what we will have when the first year ends.
(1836 / 100) * (100 + 2) =
18.36 * 102
1872.72
Finally we do the same with the new number
(1872.72 / 100) * (100 + 2) =
18.7272 * 102
1910.1744
So in conclusion putting $1800 at the end of the 3 years we will get $1910.1744
$1910.1744 - $1800 = $110.1744
that is the exact amount of the profit that we will obtain.