   Chapter 6.1, Problem 79E ### 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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# Future Value In Exercises 79 and 80, find the future value of the income (in dollars) given by f(t) over t 1 years at annual interest rate r. If the function f represents a continuous investment over a period of t, years at an annual interest rate r (in decimal form) compounded continuously, then the future value of the investment is given byFuture value = e n , ∫ 0 t , f ( t ) e − r t d t . . f ( t )   = 3 0 0 0 , r   = 8 % ,   t 1 ,   =   1 0   y e a r s

To determine

To calculate: The future value if model f(t)=3000 for time period of 10 years and annual interest rate is 8% by using the provided equation.

Explanation

Given information:

Interest rate is 8% for the time period of 10 years.

The provide expression is:

Future value=ert10t1f(t)ertdt

Formula used:

t1t2ertdt=ert2rert1r

Calculation:

Consider the expression for future value is,

Future value=ert10t1f(t)ertdt

Where r is interest rate and t1 is time period.

Here the Interest rate that is,

r=8%=0.08

The time period that is t1=10 years and f(t)=3000

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