3 years
200 * (1.2)^3 =
345.60
2 years
200 * (1.2)^2 = 288.00
1 years
200 * 1.2^1 = 240.00
It seems you calculated 200.00 for 3 years.
You need the total which equals:
345.60 + 288.00 + 240.00
= 873.60
There is a formula for this:
Total = Amount * ([(1+rate)^(years+1) -1] / rate) - amount
Total = 200 * ([(1.20^4) -1] / .20) - 200
Total = 200 * [(
2.0736
-1) / .20] -200
Total = 200 * ( 1.0736
/ .20) - 200
Total = 200 *
5.368
-200
Total =
1073.6
-200
Total = 873.60
