17. Money Flow The rate of a continuous flow of money starts at S5000 and decreases exponentially at 1% per year for 8 years. Find the present value and final amount at an interest rate of 8% compounded continuously.

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter4: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 11T: Suppose that $12,000 is invested in a saving account paying 5.6% interest per year. (a)Write the...
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17. Money Flow The rate of a continuous flow of money starts at
$5000 and decreases exponentially at 1% per year for 8 years.
Find the present value and final amount at an interest rate of 8%
compounded continuously.
Transcribed Image Text:17. Money Flow The rate of a continuous flow of money starts at $5000 and decreases exponentially at 1% per year for 8 years. Find the present value and final amount at an interest rate of 8% compounded continuously.
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