Answer:
[tex]\$420.43[/tex]
Step-by-step explanation:
we know that
The formula to calculate continuously compounded interest is equal to
[tex]A=P(e)^{rt}[/tex]
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest in decimal
t is Number of Time Periods
e is the mathematical constant number
we have
[tex]t=7.5\ years\\ P=\$300\\ r=0.045[/tex]
substitute in the formula above
[tex]A=300(e)^{0.045*7.5}[/tex]
[tex]A=\$420.43[/tex]
