Answer: $392.99
Step-by-step explanation:
The formula to find the compound amount when it is compounded continuously after x years :-
[tex]A=Pe^{rt}[/tex], 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 :-
[tex]A=300e^{0.09\times3}=392.98933522\approx392.99[/tex]
Hence, the compounded amount after 3 years = $392.99
