Answer:
$851.62
Step-by-step explanation:
The value multiplier wll be ...
(1 +r/n)^(nt)
where r is the annual interest rate (3.8%), n is the number of compoundings per year (12), and t is the number of years (3). Filling in these numbers, we see the ending value will be ...
A = $760(1 +.038/12)^(12·3) = $760(1.0031667^36) = $851.62
