Register

If $396 I'd invested at an interest rate of 13% per year and is compounded continuously, how much will the investment be worth in 3 years.

If $396 I'd invested at an interest rate of 13% per year and is compounded continuously, how much will the investment be worth in 3 years.
asked 19.5k views
5 votes
If $396 I'd invested at an interest rate of 13% per year and is compounded continuously, how much will the investment be worth in 3 years.

asked
User Bhushan B
by
8.0k points

2 Answers

7 votes
You have to use the continuous compounding formula with the constant “e” on a calculator.

396e^(0.13 x 3)
answered
User Jefferson Lima
by
8.9k points
4 votes
1042.44 but I might be wrong
answered
User Govind Gupta
by
8.2k points
← Prev Question Next Question →

Related questions

Ask a Question
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.

Categories

Other Questions

What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
Link Copied!