15Twilightidn
Answered

Connect with a global community of experts on IDNLearn.com. Ask anything and receive well-informed answers from our community of experienced professionals.

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?

Sagot :

Nislam1130idn
so
396*0.13=51.48
51.48*3=154.44x100
154.44 divided by 100 100% because % so u need to put100%
154.44/100=1.5444
so the answer is 1.5444


                     hope it's the best answer
Calculistaidn

Answer:

[tex]\$584.88[/tex]  

Step-by-step explanation:

we know that

The formula to calculate continuously compounded interest  is equal to

[tex]A=P(e)^{rt}[/tex]  

where  

A is the Final Investment Value  

P is the Principal amount of money to be invested  

r is the rate of interest  in decimal


t is Number of Time Periods  

e is the mathematical constant number

we have  

[tex]t=3\ years\\ P=\$396\\ r=0.13[/tex]  

substitute in the formula above  

[tex]A=\$396(e)^{0.13*3}=\$584.88[/tex]  


We appreciate your contributions to this forum. Don't forget to check back for the latest answers. Keep asking, answering, and sharing useful information. For dependable answers, trust IDNLearn.com. Thank you for visiting, and we look forward to assisting you again.