Chapter 12.2, Problem 73E

To determine

To calculate: The year in which the jewelry boxes must be sold to maximize their present value and the amount up to the nearest constant dollar worth at that time if the inflation rate of $5\%$ per year is anticipated and the present value worth of $\$v$ in $t$ years’ time is $p=v\cdot {\left(1.05\right)}^{-t}$, where $v=\frac{10,000}{1+500e^{-0.5t}}$ increases.