How much would $300 invested at 9% interest compounded continuously be worth after 3 years? round your answer to the nearest cent.

$392.99

Step-by-step explanation:

The formula to find the compound amount when it is compounded continuously after x years :-

, where P is the principal amount , r is the rate of interest and t is the time period.

Given : Principal Amount : P = $300

Rate of interest : r= 9%=0.09

Time : t  =3 years

Now the the compounded amount after 3 years will be :-

Hence, the compounded amount after 3 years = $392.99

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