The compound amount is 4108.32 dollars. The interest is 508.32 dollars.
Work Step by Step
Using the 4.5% column of the compound interest table, the compound amount for 3 years is found to be 1.1412. Multiply this amount times the principal to calculate the amount at the end of 3 years.. $1.1412×3600=4108.32$ dollars The interest is the difference between the compound amount and the principal. $4108.32-3600=508.32$ dollars