Answer:
$1483.52
Step-by-step explanation:
P=principle
Fn=total at the end of a given year(=n) (subscript)
I= interest in decimal
F=P(1+I)
at end of first year F1=P(1+I)
at end of second year F=F1(1+I)= P(1+I)(1+I)= P(1+I)^2
or in general Fn=P(1+I)^n
