Amount from compound interest , A = P(1 + r)ⁿ
P = Principal, r = rate per year, n = number of years. P = 3500, r = 2% = 0.02,
n = 3 years
A = 3500(1 + 0.02)³
A = 3500(1.02)³ Use a calculator
A = 3714.228
Compound Interest = 3714.228 - 3500 = 214.228 ≈ 214.23
Compound Interest ≈ $214.23
