A professional athlete signs a five-year contract in which the earnings can be modeled by c = 500,000 + 600,000t, where t represents the year. (a ) Find the actual value of the athlete's contract. $ 10,000,000 Correct: Your answer is correct. (b) Assuming an annual inflation rate of 4%, what is the present value of the contract? (Round your answer to two decimal places.)
A professional athlete signs a five-year contract in which the earnings can be modeled by c = 500,000 + 600,000t, where t represents the year. (a ) Find the actual value of the athlete's contract. $ 10,000,000 Correct: Your answer is correct. (b) Assuming an annual inflation rate of 4%, what is the present value of the contract? (Round your answer to two decimal places.)
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text:A professional athlete signs a five-year contract in
which the earnings can be modeled by c
=
500,000 + 600,000t, where t represents the year. (a
) Find the actual value of the athlete's contract. $
10,000,000 Correct: Your answer is correct. (b)
Assuming an annual inflation rate of 4%, what is the
present value of the contract? (Round your answer to
two decimal places.)
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