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Asked by Dean

$2,000 principal earning 3%, compounded annually, after 3 years.
9 years ago

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Answered by Henry
P = Po(1+r)^n.

n = 1comp./yr * 3yrs = 3 Compounding periods.

P = 2000(1+.03)^3 = $2,185.45.

9 years ago
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$2,000 principal earning 3%, compounded annually, after 3 years.

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