Use the formula A = Pe^(r*t).
A = $300*e^(0.09*3) = $392.99.
Explanation:
The formula to find the compound amount when it is compounded continuously after x years :- A=Pe^(r*t)
, 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 :-
A=300e^(0.09x3)=392.98933522~392.99.
