Answer:
4131.38
Step-by-step explanation:
Since it's compounded annually, and no time needs to be converted, we can use the formula [tex]y=Pe^r^t[/tex], where P is the starting amount, e is Euler's number, r is the rate in decimals, and t is time. The first task would be to find the t. The question set us a timeframe of 2 to 18, so 18-2=16, therefore our t is 16. Plugin the known into the formula and calculate:
[tex]y=3000e^0^.^0^2^*^1^6\\y=3000*e^0^.^3^2\\y=4131.38[/tex]
