Answer:
$1271.25
Step-by-step explanation:
Since it's continuously compounded, the 2nd formula is most appropriate.
A=Pe^rt
P = initial investment = $1000
r = rate of increase = 8% = 0.08
t = time interval in years = 3
If you put in hlthe information you should have:
A = 1000•e^(0.08)(3) = $1271.25
