Two years ago Darryl put $3,000 into an account paying 3 percent interest.How much does he have in the account today?
A)$3,180.00
B)$3,182.70
C)$3,183.62
D)None of the above are correct to the nearest cent.

Question

Quizplus · Accepted Answer

The amount in the account after two years with 3% interest compounded annually is $3,182.70. This is calculated using the formula for compound interest: A = P(1 + r)^n, where P = $3,000, r = 0.03, and n = 2.

Two Years Ago Darryl Put $3,000 into an Account Paying