Question 1176667
Equation:

{{{A = P(1 + rt)}}}

Calculation:
First, converting {{{R= 7}}}% percent to {{{r}}} a decimal
{{{r = R/100 = 7/100 = 0.07}}} per year.

Solving our equation:

{{{A = 38000.00(1 + (0.07 * 3)) }}}
{{{A = 38000.00(1 + 0.21) }}}
{{{A = 38000.00(1.21) }}}
{{{A = 45980.00}}}

or this way:

{{{A=P+I}}}
{{{P=38000}}}
{{{I=P*r*t=38000.00*0.07*3=7980.00}}}
{{{A=38000+7980=45980.00}}}