Answer;
= $ 3623.85
Explanation;
To calculate compound interest we use the formula;
FV = OV( 1 + r/100)^n
FV=Future value which is what the value will be after the interest is calculated, this is what you are looking for.
OV=Original value, the amount of money you started with, in this case
3000
r=interest rate, in this case its 6.5
n=years its being compounded annually, in this case 3
= 3000(1 + 6.5/100)^3
= 3623.848875
≈ 3623.85
