Respuesta :
Answer:
$1,845.192
Explanation:
The computation of the amount saved at the end of year 3 is shown below:
= Amount at the year 1 × (1 + interest rate)^number of years + Amount at the year 1 × (1 + interest rate)^number of years + Amount at the year 1 × (1 + interest rate)^number of years
= $500 × (1 + 0.028)^2 + $600 × (1 + 0.028)^1 + $700 × (1 + 0.028)^0
= 528.392 + $616.80 + $700
= $1,845.192
We simply applied the above formula so that the amount saved for the year 3 could come
