Answer:
$3418.77
Step-by-step explanation:
the formula for calculating present value when there is continuous compounding is :
F / e^r x N
F = future value
e = 2.7182818
N = number of years
r = interest rate
$11,000 // ( e^0.07 x 3) = 3418.77
1.6m questions
2.0m answers