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Activity #3: Present Value Max was injured and can no longer work. As a result of a lawsuit, he is awarded the present value of the income he would have received over the next 30 years. His income at the time he was injured was $30,000 per year, increasing by $1500 per year. What will be the amount of his award, assuming continuous income and a 6% interest rate? Include an integral that must be evaluated to determine this amount and then use your graphing calculator to estimate the integral. Round final answer to the nearest cent.

Activity #3: Present Value Max was injured and can no longer work. As a result of a lawsuit, he is awarded the present value of the income he would have received over the next 30 years. His income at the time he was injured was $30,000 per year, increasing by $1500 per year. What will be the amount of his award, assuming continuous income and a 6% interest rate? Include an integral that must be evaluated to determine this amount and then use your graphing calculator to estimate the integral. Round final answer to the nearest cent.

Calculus: Early Transcendentals
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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Activity #3: Present Value Max was injured and can no longer work. As a result of a lawsuit, he is awarded the present value of the income he would have received over the next 30 years. His income at the time he was injured was $30,000 per year, increasing by $1500 per year. What will be the amount of his award, assuming continuous income and a 6% interest rate? Include an integral that must be evaluated to determine this amount and then use your graphing calculator to estimate the integral. Round final answer to the nearest cent.
Transcribed Image Text:Activity #3: Present Value Max was injured and can no longer work. As a result of a lawsuit, he is awarded the present value of the income he would have received over the next 30 years. His income at the time he was injured was $30,000 per year, increasing by $1500 per year. What will be the amount of his award, assuming continuous income and a 6% interest rate? Include an integral that must be evaluated to determine this amount and then use your graphing calculator to estimate the integral. Round final answer to the nearest cent.
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