Answer:
$1661.03
Step-by-step explanation:
Since this is compounded semiannually for 10 years, and semiannually means twice a year, 10*2=20 total times to be compounded. This means that if we start with principal amount p, our equation will look like
[tex]p*(1+0.03)^{20} =3000[/tex]
Dividing both sides by [tex](1+0.03)^{20}[/tex], we get p=around 1661.03
