An heiress receives an income stream from a will at a rate of f(t) = 20,000e0.027t dollars per year. She invests this income and earns 4.6% interest (compounded continuously). (Round your answers to two decimal places.) (a) What is the future value of the income after ten years? $ (b) Compute the present value of the income over a ten year period.
An heiress receives an income stream from a will at a rate of f(t) = 20,000e0.027t dollars per year. She invests this income and earns 4.6% interest (compounded continuously). (Round your answers to two decimal places.) (a) What is the future value of the income after ten years? $ (b) Compute the present value of the income over a ten year period.
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter2: Exponential, Logarithmic, And Trigonometric Functions
Section2.1: Exponential Functions
Problem 56E
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