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An investor is presented with a choice of two investments: an established furniture store and a new book store. Each choice requires the same initial investment and each produces a continuous income stream of 6%, compounded continuously. The rate of flow of income from the furniture store is f(t)= 18,000, and the rate of flow of income from the book store is expected to be g(t) = 16,000e0.03t Compare the future values of these investments to determine which is the better choice over the next 8 years. The future value of the furniture store is $ (Round to the nearest dollar as needed.)

An investor is presented with a choice of two investments: an established furniture store and a new book store. Each choice requires the same initial investment and each produces a continuous income stream of 6%, compounded continuously. The rate of flow of income from the furniture store is f(t)= 18,000, and the rate of flow of income from the book store is expected to be g(t) = 16,000e0.03t Compare the future values of these investments to determine which is the better choice over the next 8 years. The future value of the furniture store is $ (Round to the nearest dollar as needed.)

Advanced Engineering Mathematics
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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An investor is presented with a choice of two investments: an established furniture store and a new book store. Each choice requires the same initial investment and each produces a continuous income stream of 6%, compounded continuously. The rate of flow of income from the furniture store is f(t)= 18,000, and the rate of flow of income from the book store is expected to be g(t) = 16,000e0.03t Compare the future values of these investments to determine which is the better choice over the next 8 years. The future value of the furniture store is $ (Round to the nearest dollar as needed.) www
Transcribed Image Text:An investor is presented with a choice of two investments: an established furniture store and a new book store. Each choice requires the same initial investment and each produces a continuous income stream of 6%, compounded continuously. The rate of flow of income from the furniture store is f(t)= 18,000, and the rate of flow of income from the book store is expected to be g(t) = 16,000e0.03t Compare the future values of these investments to determine which is the better choice over the next 8 years. The future value of the furniture store is $ (Round to the nearest dollar as needed.) www
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