Question 865324
We'll use the formula



{{{A=P(1+r/n)^(n*t)}}}



where,



A = final amount



P = initial amount



r = interest rate



n = compounding frequency



t = time in years



----------------------------



In this case,



A = unknown (we're evaluating to find this)



P = 1800



r = 0.03 (from 3%)



n = 365 (assuming 365 days in a year)



t = 27



-----------------------------



Plug those values into the equation to get



{{{A=P(1+r/n)^(n*t)}}}



{{{A=1800(1+0.03/365)^(365*27)}}}



{{{A=4046.09969592}}} Use a <a href="https://www.google.com/search?q=1800*(1%2B0.03%2F365)%5E(365*27)&oq=1800*(1%2B0.03%2F365)%5E(365*27)">calculator</a> for this step.



{{{A=4046.10}}} Round to the nearest penny.



So the balance of the account in 27 years will be <font size=4 color="red">$4,046.10</font>