   Chapter 5, Problem 82RE ### Calculus: An Applied Approach (Min...

10th Edition
Ron Larson
ISBN: 9781305860919

#### Solutions

Chapter
Section ### Calculus: An Applied Approach (Min...

10th Edition
Ron Larson
ISBN: 9781305860919
Textbook Problem
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# Finding the Amount of an Annuity In Exercises 81 and 82, find the amount of an annuity with income function c(t), interest rate r, and term T. c ( t ) = $1200 , r = 7 % , T = 8 years To determine To calculate: The annuity amount with the provided income function c(t)=$1200, interest rate r=7% and term T=8 yr.

Explanation

Given information:

The provided income function is c(t)=$1200, interest rate r=7% and term T=8 yr. Formula used: Annuity of an amount can be calculated as: Amount of annuity=erT0Tc(t)ertdt Fundamental theorem of calculus: abf(x)dx=F(x)]ab =F(b)F(a) Calculation: Consider provided income function is c(t)=$1200, interest rate r=7% and term T=8 yr.

To calculate the annuity, use annuity formula as shown below:

Amount of annuity=erT0Tc(t)ertdt

Substitute the value of c(t)=\$1200,r=7%,T=8yr in above formula,

erT0Tc(t)ertdt=e0

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