9514 1404 393
Answer:
$705.78
Explanation:
Put the given numbers in the formula and do the arithmetic.
P = $300, r = 0.13, n = 1, t = 7
__
A = $300.00(1 + 0.13/1)^(1·7)
A = $300·(1.13^7) ≈ $300·2.35260548
A = $705.78
There will be $705.78 in the account after 7 years.