An investment is projected to generate a continuous revenue stream at the rate of R(t) = 50,000e0.03t dollars/year for the next 3 years. If the income stream is invested in a bank that pays interest at the rate of 4.5%/year compounded continuously, find the total accumulated value (in dollars) of this income stream at the end of 3 years. (Round your answer to the nearest dollar.)
An investment is projected to generate a continuous revenue stream at the rate of R(t) = 50,000e0.03t dollars/year for the next 3 years. If the income stream is invested in a bank that pays interest at the rate of 4.5%/year compounded continuously, find the total accumulated value (in dollars) of this income stream at the end of 3 years. (Round your answer to the nearest dollar.)
Chapter5: Exponential And Logarithmic Functions
Section5.4: Exponential And Logarithmic Equations
Problem 97E
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Future Value of an Investment
An investment is projected to generate a continuous revenue stream at the rate ofR(t) = 50,000e0.03t
dollars/year for the next 3 years. If the income stream is invested in a bank that pays interest at the rate of 4.5%/year compounded continuously, find the total accumulated value (in dollars) of this income stream at the end of 3 years. (Round your answer to the nearest dollar.)
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