Question

Question 23 of 46 How much would $900 be worth after 13 years, if it were invested at 3% interest compounded continuously? (Use the formula below and round your answer to the nearest cent.

Answer 1

Use the given formula where P( The principal amount ) =$900

t is the time period = 13 years and r is the rate of interest = 3% = 0.03

A(t) = P* e^(r*t)

Replace the values

A(t) = 900* e^(0.03*13)

A(t) = 1329.28