The rate of a continuous money flow starts at $700 and increases exponentially at 2% per year for 15 years. Find the present value and accumulated amount if interest earned is 4% compounded continuously. The present value is $ (Do not round until the final answer. Then round to the nearest cent as needed.) The final amount is (Do not round until the final answer. Then round to the nearest cent as needed.)
The rate of a continuous money flow starts at $700 and increases exponentially at 2% per year for 15 years. Find the present value and accumulated amount if interest earned is 4% compounded continuously. The present value is $ (Do not round until the final answer. Then round to the nearest cent as needed.) The final amount is (Do not round until the final answer. Then round to the nearest cent as needed.)
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 62SE: Rachael deposits $1500 into a retirement fund each year. The fund earns 8.2% annual interest,...
Question
I need help on my homework
![The rate of a continuous money flow starts at
$700 and increases exponentially at 2% per
year for 15 years. Find the present value and
accumulated amount if interest earned is 4%
compounded continuously.
The present value is $
(Do not round until the final answer. Then
round to the nearest cent as needed.)
The final amount is
(Do not round until the final answer. Then
round to the nearest cent as needed.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2a8d7b81-b687-4706-b3fc-3c6e150f8e58%2Ff47a86e5-7ccb-4947-bde8-b4bd872f7daf%2Fxgvr1z6_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The rate of a continuous money flow starts at
$700 and increases exponentially at 2% per
year for 15 years. Find the present value and
accumulated amount if interest earned is 4%
compounded continuously.
The present value is $
(Do not round until the final answer. Then
round to the nearest cent as needed.)
The final amount is
(Do not round until the final answer. Then
round to the nearest cent as needed.)
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