A math tee shirt business is expected to generate $19,000 in revenue per year for the next 20 years. If the income is reinvested in the business at a rate of 3% per year compounded continuously, determine the present value of this income stream. Present value (exact value) - Present value (rounded to the nearest cent) - X 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
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A math tee shirt business is expected to generate $19,000 in revenue per year for the next 20 years. If the income is reinvested
in the business at a rate of 3% per year compounded continuously, determine the present value of this income stream.
Present value (exact value) =
Present value (rounded to the nearest cent)
X
dollars
dollars
Transcribed Image Text:A math tee shirt business is expected to generate $19,000 in revenue per year for the next 20 years. If the income is reinvested in the business at a rate of 3% per year compounded continuously, determine the present value of this income stream. Present value (exact value) = Present value (rounded to the nearest cent) X dollars dollars
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