Answer:
The final balance is $2,402.92.
The total compound interest is $302.92.
Step-by-step explanation:
A = P(1 + r/n)^{nt}
A = final amount
P = initial principal balance
r = interest rate
n = number of times interest applied per time period
t = number of time periods elapsed
A=2100(1+.045/12)^(3*12)
A=2100(1.00375)^(36)
A=2100*1.442478322
A=2402.92
gain of 302.92
