jeff invested 3000 in an account that earn 6.5% interest compounded annually. the formula for compound is A (t) = p (1+i) t. how much did jeff have in the account after 3 years

Jeff had in the account 3,623.85 after 3 years

Step-by-step explanation:

Investment: p=3,000

Interest: i=6.5%=6.5/100→i=0.065

Time (in years) : t=3

A (3) = ?

A (t) = p (1+i) ^t

t=3→A (3) = p (1+i) ^3

Replacing the given values:

A (3) = 3,000 (1+0.065) ^3

A (3) = 3,000 (1.065) ^3

A (3) = 3,000 (1.207949625)

A (3) = 3,623.848875

Rounding to the nearest hundredth:

A (3) = 3,623.85