(a) Explanation Formula used: Present value of money: “Present value at a time T is P = ∫ 0 T f ( t ) e − r t d t where f ( t ) is the rate of continuous money flow at an interest rate r at time t .” Calculation: According to the given data f ( t ) = 400 e 0.03 t , r = 0.08 and T = 10 . Substitute the respective values in the present value formula and simplify. P = ∫ 0 10 400 e 0.03 t e − 0.08 t d t = ∫ 0 10 400 e − 0 (b) To determine To find: The accumulated amount of money flow at t = 10 if f ( t ) = 400 e 0.03 t , r = 8 % and T = 10 .

Finite Mathematics and Calculus with Applications

1st Edition

ISBN: 9781323188361

Author: Margaret Lial

Publisher: Pearson Education

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Chapter 16.3, Problem 5E

(a)

To determine

To find: The present value of the money for the time period of 10 years at 8% compounded interest where the rate of money flow is f(t)=400e0.03t .

(b)

To determine

To find: The accumulated amount of money flow at t = 10 if f(t)=400e0.03t , r=8% and T=10 .

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Chapter 16.3, Problem 4E

Chapter 16.3, Problem 6E

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Finite Mathematics and Calculus with Applications

Ch. 16.1 - Find xe2xdx.Ch. 16.1 - Find ln2xdx.Ch. 16.1 - Prob. 3YT Ch. 16.1 - Find 1ex2lnxdx.Ch. 16.1 - Prob. 5YT Ch. 16.1 - Prob. 1WE Ch. 16.1 - Find the following. W2.(3x52x3)dx Ch. 16.1 - Find the following. W3.(x23+1x)dx Ch. 16.1 - Prob. 4WE Ch. 16.1 - Use integration by parts to find the integrals in...

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The present value of the money for the time period of 10 years at 8% compounded interest where the rate of money flow is f ( t ) = 400 e 0.03 t .

Solution Summary: The author calculates the present value of money for 10 years at 8% compounded interest, which is approximately 3,147.75. Substitute the respective values and simplify.