Question

how much would $900 be worth after 13 years if it were invested at 3% interest compounded continuously

Answer 1

continu
A=Pe^(rt)
A=future amount
P=present amount
r=rate
t=time
A=900e^(0.03*13)
A=900e^0.36
A=$1329.28

Answer 2

Answer: $1329.28

Explanation:

Given : The principal amount :
`P=\$900`

Time period :
`t=13\text{ years}`

Rate of interest :
`r=0.03`

The formula to find the compound amount ( if compounded continuously ) is given by :-

`A=Pe^(rt)`

i.e.
`A=(900)e^(0.03*13)=900(1.47698079388)`

`=1329.28271449\approx1329.28`

Hence, the compound amount after 13 years will be $1329.28.