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?

Question

agl202 · Answer

584.88

anonymous · Answer

Use the compounded continuously formula. $$A = Pe ^{rt}$$
P is 396, e is a constant, r is your interest RATE, and t is time, 3 years.

anonymous · Answer

@Agl202 how did you solve it?

anonymous · Answer

@Agl202  actually you did someone else's math

anonymous · Answer

@Kommander_Kitten what did you plug in for the variable e?

anonymous · Answer

I used the compounded continuously formula and I got to A=$396e^(.39) but I don't know what to do next...

anonymous · Answer

e is not a variable. 'e' is a mathematical constant, also known as Euler's number. It is the base of the natural log. It's approximately 2.71828.
It should be a button on your calculator.

anonymous · Answer

A is your final answer. Just plug it into your calculator.

anonymous · Answer

thank you @Kommander_Kitten