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1 answer:
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Answer: First option is correct.
Step-by-step explanation:
Since we have given that
Amount invested = $396
Interest rate = 13% per year
Time = 3 years
We will use the "Exponential growth formula" i.e.
Here,
P denotes Principle amount
r denoted rate of growth
t denotes number of years,
So, it becomes
Hence, First option is correct.