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Suppose that a company needs new equipment, and that the machinery in question earns the company revenue at a continuous rate of 68000r +37000 dollars per year during the first six months of operation, and at the continuous rate of $71000 per year after the first six months. T cost of the machine is $175000. The interest rate is 6.25% per year, compounded continuously. a) Find the present value of the revenue earned by the machine during the first year of operation. Round your answer to the nearest cent. Value: $ E

Suppose that a company needs new equipment, and that the machinery in question earns the company revenue at a continuous rate of 68000r +37000 dollars per year during the first six months of operation, and at the continuous rate of $71000 per year after the first six months. T cost of the machine is $175000. The interest rate is 6.25% per year, compounded continuously. a) Find the present value of the revenue earned by the machine during the first year of operation. Round your answer to the nearest cent. Value: $ E

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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Suppose that a company needs new equipment, and that the machinery in question earns the company revenue at a continuous rate of 680001 +37000 dollars per year during the first six months of operation, and at the continuous rate of $71000 per year after the first six months. The cost of the machine is $175000. The interest rate is 6.25% per year, compounded continuously. a) Find the present value of the revenue earned by the machine during the first year of operation. Round your answer to the nearest cent. Value: $ b) Determine how long it will take for the machine to pay for itself; that is, how long until the present value of the revenue is equal to the cost of the machine. Round your answer to the nearest hundredth. Years: E
Transcribed Image Text:Suppose that a company needs new equipment, and that the machinery in question earns the company revenue at a continuous rate of 680001 +37000 dollars per year during the first six months of operation, and at the continuous rate of $71000 per year after the first six months. The cost of the machine is $175000. The interest rate is 6.25% per year, compounded continuously. a) Find the present value of the revenue earned by the machine during the first year of operation. Round your answer to the nearest cent. Value: $ b) Determine how long it will take for the machine to pay for itself; that is, how long until the present value of the revenue is equal to the cost of the machine. Round your answer to the nearest hundredth. Years: E
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