Question

How much would $400 invested at 9% interest compounded continuously be worth after 3 years? Rounded by the nearest cent

Answer 1

`\bf \qquad \textit{Continuously Compounding Earned Amount} \\\\ A=Pe^(rt) \quad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\to &\$400\\ r=rate\to 9\%\to (9)/(100)\to &0.09\\ t=years\to &3 \end{cases} \\\\\\ A=400e^(0.09\cdot 3)`

notice, "e" is the Euler's constant, and yes, is on your calculator.