Compound Interest Formula
[tex]A=P\times(1+rt)[/tex]where A is the accrued amount, P is the principal amount, r the rate, and t the time.
From our problem we can get:
• P = $730
,• r = 6.5% = 0.065
,• t = 3
Replacing them in the formula:
[tex]A=730\times(1+(0.065)\times(3))[/tex]Simplifying:
[tex]A=730\times(1+0.195)[/tex][tex]A=730\times(1.195)[/tex][tex]A=872.35[/tex]Answer: $872.35