Jose bought a 3000 savings bond that earns 5 percent compoun

Jose bought a $3,000 savings bond that earns 5 percent compounded interest per year. How much will his bond be worth after 3 years?

A. $3,150.00

B. $3,307.50

C. $3,348.88

D. $3,472.88

Given P=3,000=principal

R= Rate of Interest= 5%

T=Time period = 3 years

In compound interest, We have amount=A= P(1+(R/100))^T

=3000(1+(5/100))^3

=3000(21/20)^3

={3000(21*21*21)}/20*20*20

~$ 3,472.88