Answer: A. 225
Step-by-step explanation:
We would apply the formula for determining compound interest which is expressed as
A = P(1+r/n)^nt
Where
A = total amount in the account at the end of t years
r represents the interest rate.
n represents the periodic interval at which it was compounded.
P represents the principal or initial amount deposited
From the information given,
P = $200
r = 4% = 4/100 = 0.04
n = 12 because it was compounded 12 times in a year.
t = 3 years
Therefore,
A = 200(1 + 0.04/12)^12 × 3
A = 200(1 + 0.0033)^36
A = 200(1.0033)^36
A = $225
