Consider a savings account that pays continuously compounding interest at annual rate 15%. The revenues received from a certain e-commerce website are directed to this savings account immediately. According to the statistics obtained from the web site: • in months January, February, and March, there has been a continuous flow of $\$10000$ per month at constant speed, • in months from April to September (inclusively), there has been a continuous flow of $\$15500$ per month at constant speed, • in months October, November, and December, there has been a continuous flow of $\$10000$ per month at constant speed, to the savings account. What is the total accumulated amount in the savings account at the end of the year? Choose the closest value to your answer. A $163945.10 B $161810.60 $169040.34
Consider a savings account that pays continuously compounding interest at annual rate 15%. The revenues received from a certain e-commerce website are directed to this savings account immediately. According to the statistics obtained from the web site: • in months January, February, and March, there has been a continuous flow of $\$10000$ per month at constant speed, • in months from April to September (inclusively), there has been a continuous flow of $\$15500$ per month at constant speed, • in months October, November, and December, there has been a continuous flow of $\$10000$ per month at constant speed, to the savings account. What is the total accumulated amount in the savings account at the end of the year? Choose the closest value to your answer. A $163945.10 B $161810.60 $169040.34
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Consider a savings account that pays continuously compounding interest at annual rate 15%. The revenues received from a certain
e-commerce website are directed to this savings account immediately. According to the statistics obtained from the web site:
• in months January, February, and March, there has been a continuous flow of $\$10000$ per month at constant
speed,
• in months from April to September (inclusively), there has been a continuous flow of $\$15500$ per month at
constant speed,
• in months October, November, and December, there has been a continuous flow of $\$10000$ per month at constant
speed,
to the savings account. What is the total accumulated amount in the savings account at the end of the year? Choose the closest
value to your answer.
A
$163945.10
B
$161810.60
$169040.34
$165044.90
(E) $167782.65
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