Answer:
$1700
Step-by-step explanation:
Given data
Principal P=$1000
Rate r= 3%
Time T= 18years
Required
The final amount A
The expression for the compound interest is
A= P(1+r)^t
substitute
A=1000(1+0.03)^18
A=1000(1.03)^18
A= 1000*1.70
A=$1700
Hence the final amount after 18 years is $1700
