Finding the Amount of an Annuity In Exercises 67-70, find the amount of an annuity with income function C(t), interest rate r, and term T. See Example 9.
To calculate: The amount of an annuity with income function
Given Information:
The amount of an annuity with income function
Formula used:
If c represents a continuous income function in dollars per year (where t is the time in years),
Calculation:
The income function for your deposit is
So, the amount of the annuity after 4 years will be
Now, substitute
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