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

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

User Bhushan B
by
8.0k points

2 Answers

7 votes
You have to use the continuous compounding formula with the constant “e” on a calculator.

396e^(0.13 x 3)
User Jefferson Lima
by
8.9k points
4 votes
1042.44 but I might be wrong
User Govind Gupta
by
8.2k points
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