The function f(t)=6000e^-0.02t represents the rate of flow of money in dollars per year. Assume a 15-year period at 4% compounded continuously. Find (a) the present value, and (b) the accumulated amount of money flow at T=15. (Do not round until the final answer. Then round to the nearest cent as needed.).
The function f(t)=6000e^-0.02t represents the rate of flow of money in dollars per year. Assume a 15-year period at 4% compounded continuously. Find (a) the present value, and (b) the accumulated amount of money flow at T=15. (Do not round until the final answer. Then round to the nearest cent as needed.).
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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The function f(t)=6000e^-0.02t represents the rate of flow of money in dollars per year. Assume a 15-year period at 4% compounded continuously. Find (a) the
present value, and (b) the accumulated amount of money flow at T=15.
(Do not round until the final answer. Then round to the nearest cent as needed.).
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