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The function f(x) = 1200 represents the rate of flow of money in dollars per year. Assume a 5-year period at 4% compounded continuously. Find (A) the present value, and (B) the accumulated amount of money flow at t = 5. (A) The present value is $.

The function f(x) = 1200 represents the rate of flow of money in dollars per year. Assume a 5-year period at 4% compounded continuously. Find (A) the present value, and (B) the accumulated amount of money flow at t = 5. (A) The present value is $.

College Algebra
College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...
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The function f(x) = 1200 represents the rate of flow of money in dollars per year. Assume a 5-year period at 4% compounded continuously. Find (A) the present value, and (B) the accumulated amount of money flow at t= 5. (A) The present value is $. (Do not round until the final answer. Then round to the nearest cent as needed.) (B) The accumulated amount of money flow att=5 is $ (Do not round until the final answer. Then round to the nearest cent as needed.)
Transcribed Image Text:The function f(x) = 1200 represents the rate of flow of money in dollars per year. Assume a 5-year period at 4% compounded continuously. Find (A) the present value, and (B) the accumulated amount of money flow at t= 5. (A) The present value is $. (Do not round until the final answer. Then round to the nearest cent as needed.) (B) The accumulated amount of money flow att=5 is $ (Do not round until the final answer. Then round to the nearest cent as needed.)
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