Answer: $245.01
Step-by-step explanation:
A=P(1+rn)n⋅t
A = total amount
P = principal or amount of money deposited,
r = annual interest rate
n = number of times compounded per year
t = time in years
In this example we have
P=$200 , r=7% , n=1 and t=3 years
After plugging the given information we have
A=200(1+0.071)1⋅3=200⋅1.073=200⋅1.225043=245.01
Hope this helps, give me brainliest
