Answer:
Option D.
Explanation:
Formula for amount after compound interest:
[tex]A=P(1+\frac{r}{n})^{nt}[/tex]
where,
P is principal
r is rate of interest.
n is number of times interest compounded in one period.
t is number of periods.
Given information:
P = $200
r = 2%=0.02
t = 3
n= 1
Substitute these values in the above formula.
[tex]A=200(1+\frac{0.02}{1})^{1(3)}[/tex]
[tex]A=200(1.02)^{3}[/tex]
[tex]A=212.2416[/tex]
[tex]A\approx 212.24[/tex]
Keith have $212.24 in his account after three years.
Therefore, the correct option is D.
