The function f(x) = 900 represents the rate of flow of money in dollars per year. Assume a 15-year period at 5% compounded continuously. Find (A) the present value, and (B) the accumulated amount of money flow at t= 15. (A) The present value is $ 9,497.40 . (Do not round until the final answer. Then round to the nearest cent as needed.) (B) The accumulated amount of money flow at t= 15 is $. (Do not round until the final answer. Then round to the nearest cent as needed.)
The function f(x) = 900 represents the rate of flow of money in dollars per year. Assume a 15-year period at 5% compounded continuously. Find (A) the present value, and (B) the accumulated amount of money flow at t= 15. (A) The present value is $ 9,497.40 . (Do not round until the final answer. Then round to the nearest cent as needed.) (B) The accumulated amount of money flow at t= 15 is $. (Do not round until the final answer. Then round to the nearest cent as needed.)
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...
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