A company decides to change its floor plan from cubicle to open office. This will bring in a constant stream of $1,000 in extra income annually. If the company invests this extra income in an account that earns 2.5% continuously compounded interest for ten years, is it worth the change? The change in floor plan costs $7,000.

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 4PT: An investment account was opened with aninitial deposit of 9,600 and earns 7.4 interest,compounded...
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A company decides to change its floor plan from cubicle to open office. This will bring in a constant stream of $1,000 in extra income annually. If the company invests this extra income in an account that earns 2.5% continuously compounded interest for ten years, is it worth the change? The change in floor plan costs $7,000.
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