Explanation Use the previous rate of change of balance equation to determine the general solution and obtain the value of the constant to determine the value of P ( 5 ) . Given: P ( t ) denotes the balance at time t ( y e a r s ) of an annuity that earns 5 % interest continuously compounded and pays out $ 20 , 000 / y e a r continuously. Calculation: We know from the previous solution that P ' ( t ) = 0.05 ( P − 4 , 00 , 000 ) Hence, the general solution is P ( t ) = 4 , 00 , 000 + C e 0...

4th Edition

ISBN: 9781319050733

Author: Rogawski

Publisher: MAC HIGHER

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Chapter 10, Problem 35CRE

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$P (5)$ if $P (0) = $ 2, 00, 000$

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Chapter 10, Problem 34CRE

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Ch. 10.1 - Prob. 1PQ Ch. 10.1 - Prob. 2PQ Ch. 10.1 - Prob. 3PQ Ch. 10.1 - Prob. 4PQ Ch. 10.1 - Prob. 1E Ch. 10.1 - Prob. 2E Ch. 10.1 - Prob. 3E Ch. 10.1 - Prob. 4E Ch. 10.1 - Prob. 5E Ch. 10.1 - Prob. 6E

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P ( 5 ) if P ( 0 ) = $ 2 , 00 , 000

Solution Summary: The author explains how the value of P ( 5 ) is 143, 194.90 approximately.

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$P (5)$ if $P (0) = $ 2, 00, 000$

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Chapter 10 Solutions

P ( 5 ) if P ( 0 ) = $ 2 , 00 , 000

Solution Summary: The author explains how the value of P ( 5 ) is 143, 194.90 approximately.

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P(5) if P(0)=$2,00,000

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Chapter 10 Solutions

$P (5)$ if $P (0) = $ 2, 00, 000$