Answer:

Answer: compound interest

monthlies/per year

A = $ 2,465.85

A = P + I where

P (principal) = $ 2,000.00

I (interest) = $ 465.85

Step-by-step explanation:

First, convert R percent to r a decimal

r = R/100

r = 7%/100

r = 0.07 per year,

Then, solve our equation for A

A = P(1 + r/n)nt

A = 2,000.00(1 + 0.005833333/12)(12)(3)

A = $ 2,465.85

Summary:

The total amount accrued, principal plus interest,

from compound interest on an original principal of

$ 2,000.00 at a rate of 7% per year

compounded 12 times per year

over 3 years is $ 2,465.85.

#shyisover

if you want annual calculation

Answer:

A = $ 2,450.09

A = P + I where

P (principal) = $ 2,000.00

I (interest) = $ 450.09

Then, solve our equation for A

A = P(1 + r/n)nt

A = 2,000.00(1 + 0.07/1)(1)(3)

A = $ 2,450.09

that'sit