Company QRS generated a net profit between 1992 and 1997 at a rate approximated by 27t + 276.5 million dollars per year, where t is the time in years since 1992. Find the value, in 1992, of QRS's net profit over the 5-year period from 1992 to 1997. Assume that the interest rate is 1.25%, compounded continuously and round your answer to two decimal places.
Company QRS generated a net profit between 1992 and 1997 at a rate approximated by 27t + 276.5 million dollars per year, where t is the time in years since 1992. Find the value, in 1992, of QRS's net profit over the 5-year period from 1992 to 1997. Assume that the interest rate is 1.25%, compounded continuously and round your answer to two decimal places.
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 94E
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