Answer:
$6,632.55
Step-by-step explanation:
What a coincidence I was doing the same question. Ok so you should know about the Compound Interest formula which is A=P (1+r/100) n. (n) is btw in the exponent.
A= ?
P=6250
r=2
n=3
Anyways we will input everything we are given so it will be:
A=6250(1+2/100)3
Since A is final amount - it will be our answer which is $6,632.55
