A math tee shirt business is expected to generate $19,000 in revenue per year for the next 10 years. If the income is reinvested in the business at a rate of 1% per year compounded continuously, determine the future value of this income stream at the end of 10 years. Future value (exact value) = Future value (rounded to the nearest cent) = dollars dollars
A math tee shirt business is expected to generate $19,000 in revenue per year for the next 10 years. If the income is reinvested in the business at a rate of 1% per year compounded continuously, determine the future value of this income stream at the end of 10 years. Future value (exact value) = Future value (rounded to the nearest cent) = dollars dollars
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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![A math tee shirt business is expected to generate $19,000 in revenue per year for the next 10 years. If the income is reinvested in
the business at a rate of 1% per year compounded continuously, determine the future value of this income stream at the end of 10
years.
Future value (exact value) =
Future value (rounded to the nearest cent)
=
dollars
dollars](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3cf1c23f-1662-4c31-ad4d-78c5176d78b6%2F7e3e551b-e8b2-452e-9227-d0f0eebd3c15%2Fghq5ta8_processed.png&w=3840&q=75)
Transcribed Image Text:A math tee shirt business is expected to generate $19,000 in revenue per year for the next 10 years. If the income is reinvested in
the business at a rate of 1% per year compounded continuously, determine the future value of this income stream at the end of 10
years.
Future value (exact value) =
Future value (rounded to the nearest cent)
=
dollars
dollars
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