The amount she will get is $3000[tex](1+0.2)^{16}[/tex] Option C
Step-by-step explanation:
Given,
Principal (P) = $ 3000
Rate of interest (R) = 2%
Time (T) = 18 -2 years = 16 years
To find the amount she will get.
Formula:
Amount = P([tex]1+\frac{R}{100} )^{T}[/tex]
Now,
Putting, P = 3000, R = 2%, T = 16 we get,
Amount = [tex]3000(1+\frac{2}{100} )^{16}[/tex]
= 3000[tex](1+0.2)^{16}[/tex]
