Question

If $1,000 is invested in an account that pays 3% interest compounded annually, an expression that represents the amount in the account at the end of two years can be given by which of the following equations?

Answer 1

Start: $1000
First Year: $1000*(1.03)
Second Year: $1000*(1.03)*(1.03) = $1000*(1.03)^2
Third Year: $1000*(1.03)^3

Answer 2

thank you so much:)