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Question 23 of 46 How much would $900 be worth after 13 years, if it were invested at 3% interest compounded continuously? (Use the formula below and round your answer to the nearest cent.

Question 23 Of 46 How Much Would 900 Be Worth After 13 Years If It Were Invested At 3 Interest Compounded Continuously Use The Formula Below And Round Your Answ class=

Sagot :

Use the given formula where P( The principal amount ) =$900

t is the time period = 13 years and r is the rate of interest = 3% = 0.03

A(t) = P* e^(r*t)

Replace the values

A(t) = 900* e^(0.03*13)

A(t) = 1329.28

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