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Doss [256]
3 years ago
5

if $396 is invested at an interest rate of 13% per year and is compounded continuously, how much will the investment be worth in

3 years ?
Mathematics
1 answer:
Korolek [52]3 years ago
6 0

Answer:

154.44

Step-by-step explanation:

What is 13% of 396?

Y is 13% of 396

Equation: Y = P% * X

Solving our equation for Y

Y = P% * X

Y = 13% * 396

Converting percent to decimal:

p = 13%/100 = 0.13

Y = 0.13 * 396  

Y = 51.48

Now multiply by 3 (amount of continuous years)

51.48 * 3

=154.44

Hope it helps!

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