3. The function f(t) = 80,000e0.06 represents the rate of flow of money in dollars per year. Assume a 20-year period at 8% compounded continuously. Find (a) the present value, and (b) the accumulated amount of money flow at t = 20. Hint: This integral can be done numerically, show the calculator commands that you used.
3. The function f(t) = 80,000e0.06 represents the rate of flow of money in dollars per year. Assume a 20-year period at 8% compounded continuously. Find (a) the present value, and (b) the accumulated amount of money flow at t = 20. Hint: This integral can be done numerically, show the calculator commands that you used.
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 60SE: The formula for the amount A in an investmentaccount with a nominal interest rate r at any timet is...
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Transcribed Image Text:3. The function f(t) = 80,000e0.06 represents the rate of flow of money in dollars per year. Assume a
20-year period at 8% compounded continuously. Find (a) the present value, and (b) the accumulated amount of
money flow at t = 20. Hint: This integral can be done numerically, show the calculator commands that you used.
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