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Sagot :
Given that the received amount was $350 from a car wash, $337 from a bake sale, and $490 from a used equipment sale.
Also, the interest rate is 2.2 % and the time period is 3 years.
Thus, the total amount is as follows:
[tex]\begin{gathered} \text{Total amount = 350+337+490} \\ \text{Total amount = }1177 \end{gathered}[/tex]Next, the accumulated amount can be calculated as follows:
[tex]\begin{gathered} Accumulated\text{ amount = P(1+}\frac{R}{100})^n \\ Accumulated\text{ amount }=\text{ 1177(1+}\frac{2.2}{100})^3 \\ Accumulated\text{ amount }=1177(\frac{102.2}{100})^3 \end{gathered}[/tex]Further, solve the obtained result as follows:
[tex]\begin{gathered} Accumulated\text{ amount }=\text{ 1177}\times(1.022)^3 \\ Accumulated\text{ amount }=1177\times1.067 \\ Accumulated\text{ amount }=1256.40 \end{gathered}[/tex]Thus, the league will have $1256.40 in their account after 3 years.
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