Answer
${{\$}} 3484.85$
Work Step by Step
The amount A
after investing P dollars at rate r annual interest,
compounded m times a year, for a period of t years is
$A=P\displaystyle \left(1+\frac{r}{m}\right)^{mt}$
Given
$P=3000,\ r=0.03,\ m=12,\ t=5$,
$A=3000(1+\displaystyle \frac{0.03}{12})^{12\cdot 5}\approx{{\$}} 3484.85$
