Answer:
You should have $1,463.95
Step-by-step explanation:
The formula for this is A=P(1+r)^x
P being the initial amount, r being the percentage, and x being the time passing.
1. Write out the equation: A=1400(1+0.015)^3
REMEMBER- writing percentages into decimals is moving the decimal point two times to the left--or dividing by 100!
2. Parentheses: 1400(1.015)^3
At this point, you're going to want to do exponents first (PEMDAS). If you're typing this into a calculator it should just give you the answer right away with the full equation.
3. Answer: 1463.95 (rounded to the nearest hundredth).
**I apologize if this is wrong; I haven't done it in a while so I don't know if I did 3 years or 3 months.. lol. That's probably not helping with the confidence level, but good luck!
