Given data:
The given principal is P=1,000.
The given rate of interest is r=3%.
The given time is t=10 years.
The expression for the final amount after 10 years is,
[tex]A=P+\frac{P\times r\times t}{100}[/tex]Substitute the given values in the above expression.
[tex]\begin{gathered} A=1,000+\frac{1,000\times3\times10}{100} \\ =1,300 \end{gathered}[/tex]Thus, the final amount after 10 years is 1,300.
