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
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
Financial Management: Theory & Practice
16th Edition
ISBN:9781337909730
Author:Brigham
Publisher:Brigham
Chapter21: Dynamic Capital Structures And Corporate Valuation
Section: Chapter Questions
Problem 9P
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