Question 1197704
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I'm assuming the interest is compounded annually.


P = 1500 = deposit amount
r = 0.03 = decimal form of the 3% annual interest
n = 1 = compounding once per year
t = 2 = number of years


A = P*(1+r/n)^(n*t)
A = 1500*(1+0.03/1)^(1*2)
A = 1500*(1+0.03)^(2)
A = 1500*(1.03)^(2)
A = 1500*1.0609
A = 1591.35


Sean will have $1591.35 in the bank after 2 years.
1/3 of that amount is (1/3)*1591.35 = 530.45 which is the amount he withdraws. 
There will be 1591.35 - 530.45 = <font color=red>1060.90 dollars</font> left in the bank.


Alternative calculation:
(2/3)*1591.35 = <font color=red>1060.90 dollars</font>
This is because if he takes out 1/3 of the money, then 1-(1/3) = 2/3 of it remains.
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