The investment is acted upon compound interest continuously. The worth of investment of $396 after 3 years will be $584.884.
Given information:
Invested amount or principal amount is, [tex]P=\$396[/tex].
Rate of interest per year is, [tex]r=13\%=0.13[/tex].
Time of investment is, [tex]t=3[/tex] years.
The formula for compounded amount after t time is ,
[tex]A=Pe^{rt}[/tex]
So, the compounded amount or investment worth after 3 years will be,
[tex]A=Pe^{rt}\\A=396\times e^{0.13\times 3}\\A=584.884[/tex]
Therefore, the worth of investment of $396 after 3 years will be $584.884.
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