Answer:
$1,630.08
Explanation:
The value of an amount earning interest continuously compounded is given by the formula ...
A = Pe^(rt)
The value of P can be found by dividing by its coefficient:
P = A/(e^(rt)) = Ae^(-rt)
P = $1700·e^(-0.014·3) ≈ 1630.0786
Terry placed $1,630.08 in the account.