Answer:
Answer is $4145.6
Step-by-step explanation:
formular for compound interest:
[tex]{ \bf{A = P( \frac{r}{100} + 1) {}^{n} }}[/tex]
P is the principle, P = $4000
r is rate, r = 1.2%
n is period, n = 3 years
A is the accumulative amount.
substitute:
[tex]{ \sf{A = 4000( \frac{1.2}{100} + 1) {}^{3} }} \\ \\ { \sf{A = 4000 \times 1.0364}} \\ { \sf{A = 4145.6 \: dollars}}[/tex]
