200,000 yuan deposit insurance, 3% a year. What is the compound interest for one year?

According to the description of the problem, you deposit 200,000 yuan into the insurance product with an annual interest rate of 3%, calculated with compound interest. Compound interest means that when interest is recalculated, it is added to the principal and then the next interest is calculated. The following formula can be used to calculate the total compound interest after one year:

Total compound interest = principal *( 1+ annual interest rate) deposit period

In which, the principal is 200,000 (200,000), the annual interest rate is 3%(0.03), and the deposit period is 65,438+0 years. Substituting these values into the formula can calculate the total amount of compound interest. The calculation formula is as follows:

Total compound interest = 200000 * (1+0.03)1= 206000.

Therefore, according to the compound interest of 3% a year, the total amount of 200,000 deposits after one year is 206,000 yuan.