Total amount after three years
= $8.360
Explanation:
Given -
Principal amount
p = $.8,000
Rate of interest
r = 1.5%
Duration
n = 3 years
Total amount after three years = Principal amount + Interest amount
Total amount after three years
= p + (pnr) = 8000 + (8000×1.5100×3) = 8000 + 360 = $8.360
Total amount after three years
= $8.360
