Answer:
Option C ($1529.82) is the correct alternative.
Explanation:
Given values:
Initial investment,
= $1400
Interest rate,
i = 3%
The future value will be:
= [tex]Initial \ investment(1+i)^3[/tex]
= [tex]1400(1+3 \ percent)^3[/tex]
= [tex]1400(1.03)^3[/tex]
= [tex]1400\times 1.092727[/tex]
= [tex]1529.82[/tex] ($)
