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Future Value of an Investment An investment is projected to generate a continuous revenue stream at the rate of R(t) = 30,000e0.03t dollars/year for the next 3 years. If the income stream is invested in a bank that pays interest at the rate of 5.5%/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.) $

Future Value of an Investment An investment is projected to generate a continuous revenue stream at the rate of R(t) = 30,000e0.03t dollars/year for the next 3 years. If the income stream is invested in a bank that pays interest at the rate of 5.5%/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.) $

College Algebra
College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
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 of R(t) = 30,000e⁰. dollars/year for the next 3 years. If the income stream is invested in a bank that pays interest at the rate of 5.5%/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.) 0.03t
Transcribed Image Text:Future Value of an Investment An investment is projected to generate a continuous revenue stream at the rate of R(t) = 30,000e⁰. dollars/year for the next 3 years. If the income stream is invested in a bank that pays interest at the rate of 5.5%/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.) 0.03t
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