   Chapter 5.4, Problem 68E ### 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
1 views

# 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. c ( t ) = $1500 , r = 7 % , T = 4 years To determine To calculate: The amount of an annuity with income function c(t)=$500,r=7% and T=4 years.

Explanation

Given Information:

The amount of an annuity with income function c(t)=$500,r=7% and T=4 years. Formula used: If c represents a continuous income function in dollars per year (where t is the time in years), r Represents the interest rate (in decimal form) compounded continuously, and T represents the term of the annuity in years, then the amount of annuity is, erT0Tc(t)ertdt Calculation: The income function for your deposit is c(t)=$500.

So, the amount of the annuity after 4 years will be

erT0Tc(t)ertdt

Now, substitute c(t)=\$500,r=

### Still sussing out bartleby?

Check out a sample textbook solution.

See a sample solution

#### The Solution to Your Study Problems

Bartleby provides explanations to thousands of textbook problems written by our experts, many with advanced degrees!

Get Started 