WE know that
[tex]A=Pe^{rt}[/tex]
where A is the future value including interest, P is the the initial deposit, r is the annual interest rate and t is the time. Then in our case
[tex]\begin{gathered} A=300e^{(.01)(3)}^{} \\ =309.1 \end{gathered}[/tex]
Then after three years we have 309.1. Substracting the initial deposit, we see that we earned 9.1 dollars.
