Answer: $663 would be in the account after 13 years.
Step-by-step explanation:
The formula for continuously compounded interest is
A = P x e(r x t)
Where
A represents the future value of the investment after t years.
P represents the present value or initial amount invested
r represents the interest rate
t represents the time in years for which the investment was made.
From the information given,
P = $300
r = 6.1% = 6.1/100 = 0.061
t = 13 years
Therefore,
A = 300 x e(0.061 x 13)
A = 300 x e0.793
A = $663
