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CalculusCalculus: An Applied Approach (MindTap Course List)10th Edition

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Chapter 6.1, Problem 6CP
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Calculus: An Applied Approach (Min...

10th Edition
Ron Larson
ISBN: 9781305860919

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Problem 1E
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Problem 62E
Problem 63E
Problem 64E
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Problem 67E
Problem 68E
Problem 69E
Problem 70E
Problem 71E
Problem 72E
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Problem 75E
Problem 76E
Problem 77E
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Problem 79E
Problem 80E
Problem 81E
Problem 82E
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Calculus: An Applied Approach (Min...

10th Edition
Ron Larson
ISBN: 9781305860919
Textbook Problem
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Checkpoint 6

Use Example 6 to find the probability that a participant will recall between 0% and 62.5% of the material.

To determine

To calculate: The present value of the income when a lottery will be paying an annuity of $50000 a year for 20 years when the annual rate of inflation is 7%.

Explanation

Given Information:

The annual rate of inflation is 7%. The annuity paid for 20 years is $50000 a year.

Formula used:

If c represents a continuous income function in dollars per year and the annual rate of inflation is r (in decimal form), then the actual total income over t1 years is given by

Actual income over t1 years =∫0t1c(t)dt

and its present value is given by

Present value =∫0t1c(t)e−rtdt

Calculation:

Consider the provided information that the annual rate of inflation is 7%, i.e. r=0.07

The annuity paid is $50000 for 20 years.

So, c(t)=50000

Thus, actual income using, Actual income over t1 years =∫0t1c(t)dt is given by

∫02050000dt=50000∫020</

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Sect-6.1 P-1CPSect-6.1 P-2CPSect-6.1 P-3CPSect-6.1 P-4CPSect-6.1 P-5CPSect-6.1 P-6CPSect-6.1 P-7CPSect-6.1 P-1SWUSect-6.1 P-2SWUSect-6.1 P-3SWU
Sect-6.1 P-4SWUSect-6.1 P-5SWUSect-6.1 P-6SWUSect-6.1 P-7SWUSect-6.1 P-8SWUSect-6.1 P-9SWUSect-6.1 P-10SWUSect-6.1 P-1ESect-6.1 P-2ESect-6.1 P-3ESect-6.1 P-4ESect-6.1 P-5ESect-6.1 P-6ESect-6.1 P-7ESect-6.1 P-8ESect-6.1 P-9ESect-6.1 P-10ESect-6.1 P-11ESect-6.1 P-12ESect-6.1 P-13ESect-6.1 P-14ESect-6.1 P-15ESect-6.1 P-16ESect-6.1 P-17ESect-6.1 P-18ESect-6.1 P-19ESect-6.1 P-20ESect-6.1 P-21ESect-6.1 P-22ESect-6.1 P-23ESect-6.1 P-24ESect-6.1 P-25ESect-6.1 P-26ESect-6.1 P-27ESect-6.1 P-28ESect-6.1 P-29ESect-6.1 P-30ESect-6.1 P-31ESect-6.1 P-32ESect-6.1 P-33ESect-6.1 P-34ESect-6.1 P-35ESect-6.1 P-36ESect-6.1 P-37ESect-6.1 P-38ESect-6.1 P-39ESect-6.1 P-40ESect-6.1 P-41ESect-6.1 P-42ESect-6.1 P-43ESect-6.1 P-44ESect-6.1 P-45ESect-6.1 P-46ESect-6.1 P-47ESect-6.1 P-48ESect-6.1 P-49ESect-6.1 P-50ESect-6.1 P-51ESect-6.1 P-52ESect-6.1 P-53ESect-6.1 P-54ESect-6.1 P-55ESect-6.1 P-56ESect-6.1 P-57ESect-6.1 P-58ESect-6.1 P-59ESect-6.1 P-60ESect-6.1 P-61ESect-6.1 P-62ESect-6.1 P-63ESect-6.1 P-64ESect-6.1 P-65ESect-6.1 P-66ESect-6.1 P-67ESect-6.1 P-68ESect-6.1 P-69ESect-6.1 P-70ESect-6.1 P-71ESect-6.1 P-72ESect-6.1 P-73ESect-6.1 P-74ESect-6.1 P-75ESect-6.1 P-76ESect-6.1 P-77ESect-6.1 P-78ESect-6.1 P-79ESect-6.1 P-80ESect-6.1 P-81ESect-6.1 P-82ESect-6.2 P-1CPSect-6.2 P-2CPSect-6.2 P-3CPSect-6.2 P-4CPSect-6.2 P-5CPSect-6.2 P-6CPSect-6.2 P-1SWUSect-6.2 P-2SWUSect-6.2 P-3SWUSect-6.2 P-4SWUSect-6.2 P-5SWUSect-6.2 P-6SWUSect-6.2 P-1ESect-6.2 P-2ESect-6.2 P-3ESect-6.2 P-4ESect-6.2 P-5ESect-6.2 P-6ESect-6.2 P-7ESect-6.2 P-8ESect-6.2 P-9ESect-6.2 P-10ESect-6.2 P-11ESect-6.2 P-12ESect-6.2 P-13ESect-6.2 P-14ESect-6.2 P-15ESect-6.2 P-16ESect-6.2 P-17ESect-6.2 P-18ESect-6.2 P-19ESect-6.2 P-20ESect-6.2 P-21ESect-6.2 P-22ESect-6.2 P-23ESect-6.2 P-24ESect-6.2 P-25ESect-6.2 P-26ESect-6.2 P-27ESect-6.2 P-28ESect-6.2 P-29ESect-6.2 P-30ESect-6.2 P-31ESect-6.2 P-32ESect-6.2 P-33ESect-6.2 P-34ESect-6.2 P-35ESect-6.2 P-36ESect-6.2 P-37ESect-6.2 P-38ESect-6.2 P-39ESect-6.2 P-40ESect-6.2 P-41ESect-6.2 P-42ESect-6.2 P-43ESect-6.2 P-44ESect-6.2 P-45ESect-6.2 P-46ESect-6.2 P-47ESect-6.2 P-48ESect-6.2 P-49ESect-6.2 P-50ESect-6.2 P-51ESect-6.2 P-52ESect-6.2 P-53ESect-6.2 P-54ESect-6.2 P-55ESect-6.2 P-56ESect-6.2 P-57ESect-6.2 P-58ESect-6.2 P-59ESect-6.2 P-60ESect-6.2 P-61ESect-6.2 P-1QYSect-6.2 P-2QYSect-6.2 P-3QYSect-6.2 P-4QYSect-6.2 P-5QYSect-6.2 P-6QYSect-6.2 P-7QYSect-6.2 P-8QYSect-6.2 P-9QYSect-6.2 P-10QYSect-6.2 P-11QYSect-6.2 P-12QYSect-6.2 P-13QYSect-6.2 P-14QYSect-6.2 P-15QYSect-6.2 P-16QYSect-6.2 P-17QYSect-6.2 P-18QYSect-6.2 P-19QYSect-6.2 P-20QYSect-6.2 P-21QYSect-6.3 P-1CPSect-6.3 P-2CPSect-6.3 P-3CPSect-6.3 P-1SWUSect-6.3 P-2SWUSect-6.3 P-3SWUSect-6.3 P-4SWUSect-6.3 P-5SWUSect-6.3 P-6SWUSect-6.3 P-7SWUSect-6.3 P-8SWUSect-6.3 P-9SWUSect-6.3 P-10SWUSect-6.3 P-1ESect-6.3 P-2ESect-6.3 P-3ESect-6.3 P-4ESect-6.3 P-5ESect-6.3 P-6ESect-6.3 P-7ESect-6.3 P-8ESect-6.3 P-9ESect-6.3 P-10ESect-6.3 P-11ESect-6.3 P-12ESect-6.3 P-13ESect-6.3 P-14ESect-6.3 P-15ESect-6.3 P-16ESect-6.3 P-17ESect-6.3 P-18ESect-6.3 P-19ESect-6.3 P-20ESect-6.3 P-31ESect-6.3 P-32ESect-6.3 P-33ESect-6.3 P-34ESect-6.3 P-35ESect-6.3 P-36ESect-6.3 P-37ESect-6.3 P-38ESect-6.3 P-39ESect-6.3 P-40ESect-6.3 P-43ESect-6.3 P-44ESect-6.3 P-45ESect-6.3 P-46ESect-6.3 P-47ESect-6.3 P-48ESect-6.4 P-1CPSect-6.4 P-2CPSect-6.4 P-3CPSect-6.4 P-4CPSect-6.4 P-5CPSect-6.4 P-1SWUSect-6.4 P-2SWUSect-6.4 P-3SWUSect-6.4 P-4SWUSect-6.4 P-5SWUSect-6.4 P-6SWUSect-6.4 P-7SWUSect-6.4 P-8SWUSect-6.4 P-9SWUSect-6.4 P-10SWUSect-6.4 P-1ESect-6.4 P-2ESect-6.4 P-3ESect-6.4 P-4ESect-6.4 P-5ESect-6.4 P-6ESect-6.4 P-7ESect-6.4 P-8ESect-6.4 P-9ESect-6.4 P-10ESect-6.4 P-11ESect-6.4 P-12ESect-6.4 P-13ESect-6.4 P-14ESect-6.4 P-15ESect-6.4 P-16ESect-6.4 P-17ESect-6.4 P-18ESect-6.4 P-19ESect-6.4 P-20ESect-6.4 P-21ESect-6.4 P-22ESect-6.4 P-23ESect-6.4 P-24ESect-6.4 P-25ESect-6.4 P-26ESect-6.4 P-27ESect-6.4 P-28ESect-6.4 P-29ESect-6.4 P-30ESect-6.4 P-31ESect-6.4 P-32ESect-6.4 P-33ESect-6.4 P-34ESect-6.4 P-35ESect-6.4 P-36ESect-6.4 P-37ESect-6.4 P-38ESect-6.4 P-39ESect-6.4 P-40ESect-6.4 P-41ESect-6.4 P-42ECh-6 P-1RECh-6 P-2RECh-6 P-3RECh-6 P-4RECh-6 P-5RECh-6 P-6RECh-6 P-7RECh-6 P-8RECh-6 P-9RECh-6 P-10RECh-6 P-11RECh-6 P-12RECh-6 P-13RECh-6 P-14RECh-6 P-15RECh-6 P-16RECh-6 P-17RECh-6 P-18RECh-6 P-19RECh-6 P-20RECh-6 P-21RECh-6 P-22RECh-6 P-23RECh-6 P-24RECh-6 P-25RECh-6 P-26RECh-6 P-27RECh-6 P-28RECh-6 P-29RECh-6 P-30RECh-6 P-31RECh-6 P-32RECh-6 P-33RECh-6 P-34RECh-6 P-35RECh-6 P-36RECh-6 P-37RECh-6 P-38RECh-6 P-39RECh-6 P-40RECh-6 P-41RECh-6 P-42RECh-6 P-43RECh-6 P-44RECh-6 P-45RECh-6 P-46RECh-6 P-47RECh-6 P-48RECh-6 P-49RECh-6 P-50RECh-6 P-51RECh-6 P-52RECh-6 P-53RECh-6 P-54RECh-6 P-55RECh-6 P-56RECh-6 P-57RECh-6 P-58RECh-6 P-59RECh-6 P-60RECh-6 P-61RECh-6 P-62RECh-6 P-63RECh-6 P-64RECh-6 P-1TYSCh-6 P-2TYSCh-6 P-3TYSCh-6 P-4TYSCh-6 P-5TYSCh-6 P-6TYSCh-6 P-7TYSCh-6 P-8TYSCh-6 P-9TYSCh-6 P-10TYSCh-6 P-11TYSCh-6 P-12TYSCh-6 P-13TYSCh-6 P-14TYSCh-6 P-15TYSCh-6 P-16TYSCh-6 P-17TYSCh-6 P-18TYS

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