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If $396 is invested at an interest rate of 13% per year and is compounded continuously, how much will the investment be worth in 3 years?


$584.88

$583.66

$581.27

$268.11

Verified Answer :

Aliwohaish12

A=pe^(rt)
A=396×e^(0.13×3)
A=584.88

aksnkj

The investment is acted upon compound interest continuously. The worth of investment of $396 after 3 years will be $584.884.

Given information:

Invested amount or principal amount is, \(P=\$396\).

Rate of interest per year is, \(r=13\%=0.13\).

Time of investment is, \(t=3\) years.

The formula for compounded amount after t time is ,

\(A=Pe^{rt}\)

So, the compounded amount or investment worth after 3 years will be,

\(A=Pe^{rt}\\A=396\times e^{0.13\times 3}\\A=584.884\)

Therefore, the worth of investment of $396 after 3 years will be $584.884.

For more details, refer to the link:

https://brainly.com/question/15062056

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