Find the present value P of a continuous income flow of c(t) dollars per year using P = c(t)e-rt dt, where t, is the time in years and r is the annual interest rate compounded continuously. (Round your answer to the nearest dollar.) c(t) = 100,000 + 4000t, r = 5%, = 12

Algebra and Trigonometry (MindTap Course List)
4th Edition
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter4: Exponential And Logarithmic Functions
Section4.2: The Natural Exponential Function
Problem 2E
icon
Related questions
Question
100%
Find the present value P of a continuous income flow of c(t) dollars per year using
P =
c(t)e-rt dt,
where t, is the time in years andris the annual interest rate compounded continuously. (Round your answer to the nearest dollar.)
c(t) = 100,000 + 4000t, r =
5%, t, =
= 12
%24
Transcribed Image Text:Find the present value P of a continuous income flow of c(t) dollars per year using P = c(t)e-rt dt, where t, is the time in years andris the annual interest rate compounded continuously. (Round your answer to the nearest dollar.) c(t) = 100,000 + 4000t, r = 5%, t, = = 12 %24
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 3 images

Blurred answer
Knowledge Booster
Differential Equation
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, advanced-math and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Algebra and Trigonometry (MindTap Course List)
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:
9781305071742
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
College Algebra
College Algebra
Algebra
ISBN:
9781938168383
Author:
Jay Abramson
Publisher:
OpenStax
Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
College Algebra
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Linear Algebra: A Modern Introduction
Linear Algebra: A Modern Introduction
Algebra
ISBN:
9781285463247
Author:
David Poole
Publisher:
Cengage Learning