Question 973286
it would be 750 * 1.03^10 = 1007.937285


you got it right, but you did it the long way.


the equation is derived as follows:


750 * 1.03 gets you the first year.


750 * 1.03 * 1.03 gets you the second year.
that's equivalent to 750 * 1.03^2


750 * 1.03 * 1.03 * 1.03 gets you the third year.
that's equivalent to 750 * 1.03^3


the tenth year becomes 750 * 1.03^10.


your multiplication factor is 1.03 because 750 + 750 * .03 is equal to 750 * 1.03 after you factor out the common term of 750.