SOLUTION: Mr Ong invests $25000 in a fixed deposit that pays an interest of 3% per annum. If Mr Ong reinvests the interest, how much money will he get of he withdraws his money after 3 year

Question 1034643: Mr Ong invests $25000 in a fixed deposit that pays an interest of 3% per annum.
If Mr Ong reinvests the interest, how much money will he get of he withdraws his money after 3 years. Give your answer correct to nearest 50 cents.
Answer by fractalier(6550) (Show Source): You can put this solution on YOUR website!

A(3) = 25000(1.03)^3 = $27318.00 to the nearest half dollar...
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