Forestry
The value of a tract of timber is
where t is the time in years, with t = 0 corresponding to 2010. If money earns interest continuously at 10%, then the present value of the timber at any time t is
Find the year in which the timber should be harvested to maximize the present value function.
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- Algebra & Trigonometry with Analytic GeometryAlgebraISBN:9781133382119Author:SwokowskiPublisher:CengageCalculus For The Life SciencesCalculusISBN:9780321964038Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.Publisher:Pearson Addison Wesley,Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw Hill